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Commercial Real Estate & Business News – February 24, 2022

A developer plans to turn 240 acres of farm land into industrial buildings in southwest Phoenix, part of an employment center the city markets as the South Mountain Technology Corridor (SMTC). Three years ago, a 22-mile stretch of the…»
A 163-unit townhouse project in Peoria, Arizona, traded for just under $73 million, 70% higher than the property’s prior selling price about a year ago, as busy multifamily sales activity in greater Phoenix spills into 2022. WhiteHaven Capital Partners bought the…»
January home sales dropped 31.4% from December’s total – a decrease slightly more than the seasonal norm – as inventory shrank for the sixth consecutive month, according to RE/MAX. Year over year, sales were down 5.3% from January 2021. Most relevant to…»
During the next few decades, the West Valley could see some major changes to its transportation system, including improvements, the expansion of key freeways and the construction of a new state route. If completed, the new projects could further…»
Budget projections show Phoenix will have an estimated surplus of $76 million going into the next fiscal year, which starts July 1. Elected officials have different ideas on how to spend it. For years, Phoenix has been trying to staff its police force with…»