Commercial Real Estate & Business News – February 7, 2022

Executives at e-commerce juggernaut Amazon said the company’s rapid-fire bout of warehouse leasing, buying and building may start tapering off. Any reduction will be keenly felt by the industrial real estate industry, which benefits immensely from Amazon’s efforts to…»
Scottsdale-based investment firm, Sterling Real Estate Partners, recently acquired Suites on Scottsdale in an off-market transaction with plans to convert the hotel into market rate apartments. Originally built in 1996, the 114-room extended stay hotel will be transformed into…»
Developer Related Group started construction of Town Chandler, an apartment project in Chandler, Arizona, where business and population growth has pushed the vacancy rate down to the low single digits. Related, based in Miami, and…»
US retailers are on track to open 30 million square feet this year in the wake of 1,910 announced store openings so far this year. As of January 28, according to Coresight Research, there were 742 announced store closures, which translates into an estimated…»
A master-planned residential community that was once proposed for Buckeye could instead transform into a massive industrial center amid an unprecedented demand for space in the Phoenix metro. The giant property consists of about 2,000 acres located…»