Commercial Real Estate & Business News February 22, 2019

Tech Company Moving its HQ to a Different Valley City
After 18 years in Tempe, Limelight Networks Inc. is moving its headquarters to Scottsdale this summer. The Tempe-based public technology company is moving its 230 local employees to the SkySong office project in August, said Sandra Brisentine, Limelight’s vice president of human resources. Limelight will occupy 38,000 square feet on…»
California Developer Envisions Urban Project Rivaling Los Angeles’ Century City in Northeast Phoenix
A Southern California developer just got a step closer to realizing a long-sought vision that would bring a small city’s worth of development to an area of north Phoenix that could become the city’s newest urban center. Affiliates of Costa Mesa, California-based Crown Realty & Development have closed on the $54 million purchase of…»
Metrostudy Makes Bold Predictions for 2019 Phoenix Housing Market
Metrostudy Regional Director Ryan Brault has made some bold predictions regarding the Valley’s residential real estate industry. In his fourth-quarter update and economic outlook, Brault suggests that there will be only two more Fed rate increases in 2019, with 30-year fixed mortgage rates topping out about 5.5 percent. Brault expects…»
Latest Arizona Projections Show Solid Growth in Professional Services, Finance and Health Jobs
The number of jobs in Arizona are expected to increase steadily during the next two years, with education, health services and finance/professional services seeing the biggest gains. According to projections from the Arizona Office of Economic Opportunity, the number of jobs is expected to grow from 3,015,242 at the end of the…»
Opus Plans to Build Multifamily Development in P83
The Opus Group announced today plans to construct a new 352-unit multifamily development in the heart of the Peoria Sports Complex Urban Design District, often referred to as P83. Opus will break ground on the 10-building development in March and the first units are scheduled for completion in June 2020 with full completion in…»