Commercial Real Estate & Business News February 27, 2019

Arizona’s Economy, Growth, Jobs Expected to Outpace U.S. Averages
With continued low unemployment rates, sustained population growth and surges in key industries, Arizona’s economy continues its positive trajectory. These were the findings presented last week by prominent economist Dr. Christopher Thornberg of Beacon Economics at the Alliance Bank of Arizona 2019 Economic Forum. Steady growth was…»
Quad Co-Developer Reveals Details for Latest Phoenix Office Reboot
George Oliver, the Phoenix-based co-redeveloper of the Quad in Scottsdale, has $17 million worth of renovations planned for its latest project, a Phoenix office complex formerly known as Catalina Terraces.  The 181,188-square-foot project, which will be renamed CASA, is located near Northern Avenue and 16th Street, and will have…»
CRE Demand Maintains Its Steady Path
A voracious appetite for commercial real estate demonstrates no signs of lessening as demand exceeded supply growth for retail, apartments and office markets, and was matched in industrial space. According to market commentary from NAREIT, vacancy rates declined in office and retail markets, slightly changed in industrial, and had a…»
Arizona’s Affordable Housing Supply at “Crisis Point”
Rising housing demand in Arizona is starting to outpace new supply, and the affordable housing supply in particular has reached a crisis point, according to a recent report from the Arizona Multi-Housing Association. In the state, 32% of households require an affordable housing permit, and 48% of households require an…»
Beatitudes Breaks Ground on $260M Redevelopment Plan
Beatitudes Campus, located in north central Phoenix, broke ground a $260 million redevelopment on Thursday, Feb. 21. After completion of the eight-year redevelopment project, Beatitudes Campus will be the largest life plan community in Arizona. Phase I of the redevelopment is the construction of 34 Patio Homes located along…»