Commercial Real Estate & Business News – February 14, 2024

A nearly 2,000-acre data center and technology campus could be developed west of Phoenix in a new corridor the city of Buckeye is looking to establish around its airport. The Buckeye planning commission is scheduled to vote Feb. 13 on creating a designated technology…»

Metro Phoenix renters are finally getting a break. Valley rents have stopped their heady increases and are down in most areas. Also, Arizona legislation has been introduced to give tenants more help. It’s needed after metro Phoenix led the nation with a 30% rent hike in…»

The Greater Phoenix office market, like nearly all large cities across the nation, is struggling with negative net absorption in the post-pandemic economy. Despite negative net absorption totaling -1.7 million square feet during 2023, the Phoenix market continues to experience rising…»

California-based Menlo Equities has proposed to replace a mostly vacant Phoenix office park with a 1.1M SF research and development hub that will combine data centers with R&D space. The project, to be known as the East Thistle Data Center, envisions five buildings…»

After being placed in a receivership following its ownership’s failure to make mortgage payments, a buyer has been lined up to acquire the Adero Scottsdale resort. The 177-room property in Fountain Hills, which used to be the CopperWynd Resort before a massive renovation and…»