Commercial Real Estate & Business News – January 8, 2021

DoorDash Building Trades in Phoenix’s Largest Office Deal of 2020
Lincoln Property Co. sold its newly developed Grand2 property. The deal was the largest office transaction in Phoenix last year, and the fifth largest office deal in the US. Grand2 is a 9-story, 358,000-square-foot office building fully leased to San Francisco-based DoorDash. Apex Capital Investments Corp. purchased…»
In a Difficult Period for Construction Nationwide, Phoenix Led in Industry Job Growth
In a time period when only one-third of metros in the country added construction jobs, the Phoenix area led the pack for job growth in the industry. According to data from the Associated General Contractors, in the 12-month period that ended in November 2020, only 34% of U.S. metros…»
Developer Breaks Ground on ‘Attainable Housing’ Project in Goodyear, Arizona
Housing developer Greenlight Communities broke ground on a 286-unit multifamily complex aimed at midpriced rental rates in the fast-growing Phoenix suburb of Goodyear, Arizona. Greenlight, based in Scottsdale, Arizona, said it expects to finish construction on the property known as…»
Net Lease Cap Rates Close 2020 at Record Lows
For the second-consecutive quarter, single-tenant net lease cap rates have reached an all-time low, according to The Boulder Group’s Fourth Quarter 2020 Net Lease Research Report. The results contradict industry expectations at the midyear point, when 80 percent of net lease participants in a survey…»
Reviewing Opportunity Zones With Steve Glickman and Ira Weinstein
The Opportunity Zones program has been around for more than three years now. Throughout this period a lot has happened, including last year’s health crisis and culminating with the 2020 presidential elections, which appeared to mark the passage to a new economic cycle. Multi-Housing News asked two Opportunity…»