Commercial Real Estate & Business News – February 8, 2023

Phoenix Claims 8th Largest Office Deal in the U.S. for 2022 at $504M

When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an…»

As Rates Climb, Debt Becomes Attractive to Many Investors

There’s an old saying that water finds its level, and usually it means people gravitate toward the like-minded. But there’s another way to take it from physics — that water will move about until pressure and force equalize. It adapts to…»

Tempe Asks Arizona Supreme Court to Keep $1.8B South Pier Project Off Ballot

Tempe has tripled down in its battle to keep a $1.8 billion project on Town Lake off the ballot, appealing two previous court losses to the Arizona Supreme Court on Friday. The city hopes to overturn rulings won by an advocacy group that collected »

Chicago Developer Set to Start Work on Second Downtown Phoenix Apartment Tower

Chicago-based The X Co. — which recently started construction on the second phase of its X Phoenix multifamily project in downtown Phoenix — plans to break ground nearby this spring on X Roosevelt. With 506 beds spanning 20 stories, the first phase of…»

Value of Phoenix Metro Construction Starts Outpaces Nation, Report Shows

Several major construction projects moved forward in Phoenix in 2022, which contributed to it being recognized as a top market for the value of commercial and multifamily starts. Dodge Construction Network found Phoenix to be No. 7 on a…»