Commercial Real Estate & Business News – July 1, 2020

Phoenix Retail Demand Diminishes During Coronavirus Pandemic
Phoenix retail demand dramatically pulled back since March, when the pandemic rocked the market. Retail was one of the hardest-hit commercial sectors due to an abrupt stop in economic activity and a curtail in consumer spending. Many retailers closed…»
Competition Lines Up to Buy Self-Storage Properties
In the first week of June, Nick Walker listed a self-storage property for sale. The facility is fully-leased and producing income.”We received 17 offers,” says Walker, executive vice president in the Los Angeles office of CBRE Capital Markets. He is not alone. Across…»
What the Future of Commercial Office Space Will Look Like
Top executives from three of the most successful commercial real estate firms in the world spoke recently in Phoenix about what the office of the future will look like here and across the nation during and post-pandemic. While the face of commercial…»
Costco Finally Confirms: It’s Coming to Surprise. Here’s When it Will Open
Surprise is about to get its own Costco. Costco is opening on the southwest corner of Sarival Avenue and Waddell Road in September, according to the company’s website. This is the first time the company has acknowledged its arrival in the city…»
Plans for Big Entertainment District Project Filed
Bars and clubs in downtown Scottsdale could give way to hotels, office space and retail shops, according to redevelopment plans submitted to the city. The plans give the clearest picture yet of The Scottsdale Collective, a major redevelopment, first reported…»