Commercial Real Estate & Business News – January 11, 2023

Nevada Developer Begins Phoenix Project as Industrial Construction Keeps Booming in Region

A Las Vegas developer that has been active across greater Phoenix in recent months plans an industrial park in the West Valley as construction stays brisk in the region despite a national pullback by industrial developers…»

How the Pandemic Pushed a Washington Toymaker to Move its Biggest Distribution Center to Arizona

Near the end of the first year of the Covid-19 pandemic, one Washington-based company decided it was time to search for a new facility to house its global distribution operations. The company, Everett, Washington-based Funko Inc., was no exception…»

Here’s how Much Housing Affordability has Dropped in Arizona

Flagstaff and Prescott typically have the lowest housing affordability in Arizona, but not this last quarter. In the second quarter 2022, only 22.3% of homes sold in the Phoenix metro were affordable to those earning the median family income according to…»

Plenty of Demand for Brick-and-Mortar Luxury Retail

Luxury retail shoppers and their typically higher household incomes are showing up in Sunbelt markets ready to spend and retail centers are taking notice. No longer mostly consolidated in New York and Los Angeles, areas such as…»

Arizona Business Leaders More Upbeat Than US Peers Despite Economic Uncertainty, Surveys Find

Most business leaders in Arizona are expecting a recession and sustained higher costs this year, but they don’t seem to be letting that dampen their optimism too much. That comes from JPMorgan Chase’s 2023 Business Leaders Outlook report, which was…»