Commercial Real Estate & Business News January 25, 2019

Vantage to Build Its Largest Data Center in North America Near Phoenix
Vantage Data Centers bought 50 acres in Goodyear, Arizona, for construction of its largest data center campus in North America to date, in the latest sign of rising demand in the Phoenix area fueled by the growth of cloud computing and e-commerce companies. The massive Goodyear campus is planned to include three data centers for a total of…»
Downtown Phoenix’s First Grocery Store Will Be a First for Fry’s, Too
This week marked a major milestone for one of Phoenix’s most awaited developments as construction “topped off” on Block 23 – the future home of downtown’s only full-service grocery store.  The development will include a 230,000-square-foot office building, 330 apartments, retail, restaurants and a Fry’s Food Store. The project is slated to open…»
Developer Turns to Small Mixed-Use Projects to Fill Shopping Center Void
As large-scale malls and shopping centers have been in decline in recent years, developers are turning to small-scale, mixed-use developments to fill a niche. “People still want the experience for retail, but we can’t do it on that scale,” said David Sellers, CEO of Phoenix-based LGE Design Build. LGE has opened locally oriented commercial developments in…»
Insurance Giant Progressive to Hire Hundreds in Phoenix as Part of Nationwide Push
Progressive Corp. expects to hire more than 10,000 people in the coming year, including more than 300 in Phoenix. It’s the Ohio-based insurance company’s most aggressive hiring push to date and comes after growing revenue more than 50 percent in the last three years to $30 billion. In Phoenix, the company employs about 700 people and plans to…»
How Related Group Will Give Valley a $500M Makeover
For Jorge Pérez, art is more than just things that can fill up walls and rooms or add color to spaces that beg for more color. The Related Group’s chairman, CEO and co-founder views art as a vital part of his life and his business empire. “I’m a big art collector, so I believe that transferring that beauty into the buildings  that we do improves not just…»