Commercial Real Estate & Business News – February 23, 2021

The U.S. housing market has weathered a challenging 2020. Unprecedented events such as a global pandemic and a tumultuous presidential election have fueled a period of economic uncertainty. However, despite these challenges, recent research shows that Arizona’s real estate market will see an 8.2%…»

Rents have continued to increase across metro Phoenix over the past year. The biggest was a 15% jump in one-bedroom prices in Surprise. Arizona State University real estate professor Mark Stapp says the solution is to build. “Unfortunately, there’s only one way out of this and it’s to build your way…»

Legacy Sports Park, the 320-acre multivenue property under construction in Mesa, has hired the former sports business development manager at ESPN World Wide of Sports in Orlando, Florida as its general manager. Los Angeles-based Oak View Group, the company contracted to manage and operate…»

The National Association of House Builder’s fourth-quarter “Housing Trend Report” shows 15% of Americans are planning to purchase a house in the next 12 months, up 4% from the same time a year ago. Analysts suspect the pandemic is fueling this surge. The arrival of the global health crisis coincided…»

The Phoenix residential real estate market is booming, recording the highest annual growth in both home values (17.1%) and typical rent (8.4%) among the nation’s largest metros, according to Zillow’s latest market report. Extreme demand driven by exceptionally low mortgage rates, demographic pressures…»