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Commercial Real Estate & Business News January 23, 2020

Housing Market in 2020: Here’s What to Expect in Arizona Even a rise in interest rates cannot slow Arizona’s red-hot housing market. “The modest uptick in mortgage rates over the last several months reflects declining recession fears and a more sanguine outlook for the global economy,” says Sam Khater, chief economist for Freddie Mac. “Due to the improved economic outlook, purchase…»
How One Investor Is Using Cell Phone Data to Underwrite Retail
Real estate companies are embracing technology across a range of areas. But these efforts are mainly in the customer-facing arena, such as providing better services to multifamily or office tenants.But, save for the occasional exception, few companies are able to use tech to make investment decisions for various reasons, such as lack…»
Phoenix Industrial Market Finishes Year with Rental Rates at a Record High
The Phoenix industrial market finished another strong year, with vacancy rates hovering around the record low and asking rental rates escalating to a record high, according to a report from Kidder Mathews. The development pipeline at year-end hit an astronomical all-time high of current projects under construction, with the majority due to…»
Metrocenter May Get a New Owner, but Redevelopment Will Cost Milliions
Once upon a time, Metrocenter was the king of the Valley’s shopping malls. As the largest mall in the Southwest in the 1970s, the Phoenix shopping center was packed with patrons browsing and buying among scores of stores. Now, the nearly 47-year-old mall just off Interstate 17 and south of Peoria Avenue in Phoenix is becoming a decaying…»
White Claw Brewer to Build $250 Million Arizona Facility As Hard Seltzer Sales Rise
The company that produces White Claw Hard Seltzer and Mike’s Hard Lemonade tapped Glendale, Arizona, for its new $250 million brewery and distribution center and expects to fast-track the opening of the facility to less than seven months to keep up with the national thirst for the popular alcoholic beverages. The 916,000-square-foot…»