Commercial Real Estate & Business News – January 19, 2022

Housing affordability, the fate of office work and the demand for industrial space in Phoenix were among the themes covered during the IREM CCIM Economic Forecast held Friday morning. Robert Hicks, executive vice president for Portico Property Group, said the Valley is expected to see another 22,000 apartment units come into the market in 2022, following a year of…»

As one of the fastest growing cities in America, it’s no wonder the flood of inbound migration is bringing middle-class families to Phoenix, where they can sweep up jobs and housing that’s far more affordable than many other major metropolitan areas. The great thing about Phoenix – there are many neighborhoods where you can…»

While it’s no surprise that Phoenix would make Zillow Group Inc.’s 10 hottest housing markets of 2022, it was a shock to see the rapidly growing metro fall from No. 2 last year to No. 8 this year. With a typical home value of $422,463 in metro Phoenix, Zillow forecasts home values to rise 20% through November 2022 in metro Phoenix. The hottest markets index for 2022 is based on…»

Land Advisors Organization announced it recently helped facilitate the sale of 327 single-family platted lots at the Avion at Ballpark Village, on behalf of Communities Southwest, in a $20.2 million transaction. The 75-acre parcel is part of the first phase of the development, which is located in Goodyear, Arizona. Land Advisors Organization professionals…»

The largest wind farm in Arizona is planned near Flagstaff by NextEra Energy Resources to provide power to Salt River Project, the companies announced Thursday. Crews will construct the turbines on Babbitt Ranches land, about 25 miles north of the city off State Route 180, and generate…»