Commercial Real Estate & Business News – February 4, 2021

Peoria may land its first full-service hospital nearly a decade after construction of one began, ran out of money and stood as a partially built skeletal framework for years. Demolition of the unbuilt eyesore began in late October, and a groundbreaking on the same site now is slated in April for the…»

Global investment in commercial real estate rebounded at the close of 2020, up 84% from the previous quarter and totaling $290 billion, according to new research from CBRE. The activity was a good sign for recovery of the industry and returning demand; however, it wasn’t enough to offset the…»

Supermarket giant Kroger Co. plans to build an $89 million warehouse in southwest Phoenix that uses robots programmed with artificial intelligence to fulfill online grocery orders for its Fry’s Food Stores outlets in Arizona. Kroger, the largest grocery store retailer in the United States, bought 57.3 acres at…»

Phoenix is celebrating a banner year for the industrial market. In 2020, the market posted 13.9 million square feet of industrial absorption, the highest on record, according to research from Colliers International. Out-of-state companies and ecommerce growth fueled the market activity. Amazon alone…»

When most people think of Arizona college towns, it’s Tempe, Tucson and Flagstaff that pop to mind. But in central and downtown Phoenix, a critical mass of higher education is taking place that is making the area one of the largest hubs of higher education in the state. Almost 15,000 students…»