Commercial Real Estate & Business News – February 22, 2023

Creation Equity Plans $60 Million Industrial Project in Scottsdale

Fresh off acquiring the ground lease to 18 acres of Scottsdale Airpark land, Creation Equity is ready to build what it thinks will be a coveted industrial center. The Phoenix developer is planning an industrial project called…»

Phoenix Suburb Lands Major EV Battery Plant

Ecobat, reportedly the world’s largest recycler of batteries, will build its third lithium-ion battery recycling facility—and its first in North America—in Casa Grande, Ariz. The facility is intended to initially produce an estimated 10,000 tons of…»

Wood Partners Announces Grand Opening of Alta Cooley Station in Gilbert

Wood Partners, a leading national multifamily real estate developer and manager, announced the grand opening of its newest luxury residential community, Alta Cooley Station, in Gilbert, Arizona today. Located just southeast of Phoenix…»

Commercial-to-Multifamily Conversion Shows Promise Across Broad Range of Markets, Says ULI and NMHC Report

Repurposing commercial properties into multifamily housing is growing more common across a variety of real estate markets and can provide a critical source of housing where shortages persist, according to a new report from…»

Multifamily Buyers, Sellers Waiting for the Other Side to Blink

It’s a bit of same ol’, same ol’ for now in multifamily deal-making two months into 2023 – not a whole lot. “Buyers are cautious, facing higher financing costs and downgraded projections of future rent growth,” writes, Paul Fiorilla…»