Commercial Real Estate & Business News July 10, 2019

Phoenix’s Successful Business Attraction Efforts Driving Leasing Activity Phoenix’s value proposition is becoming increasingly attractive and is luring companies from pricey coastal markets, bolstering office leasing activity. The intensifying war for talent, rising cost of living and doing business and political uncertainties has motivated companies to seek alternative locations-and Phoenix is…»
Construction to Begin on New Creighton University Health Sciences Campus at Park Central
Plaza Companies is the developer, and Okland Construction will be the general contractor for the first phase of the Creighton University building. Butler Design Group will serve as the architect, and the conceptual and tenant design and improvement architect is RDG Planning & Design. “We are very pleased to be working…»
Burned Down Safeway Purchased, Redevelopment Planned
A Phoenix shopping center that was anchored by the Safeway store gutted in a fire last summer has been acquired by a Scottsdale developer with plans to completely revamp the entire property. SimonCRE closed on a deal Tuesday to purchase Park Northern, the shopping center on the northeast corner of 35th and…»
Trade Tensions Raise Construction Costs in the Multifamily Sector
The tariff wars are causing the price of construction materials to rise, construction contractors are saying. “Approximately 60 percent of the cost increases we’ve seen recently are directly related to tariffs,” says Aaron Trascritti, director of client relations for Summit Contracting Group, a multifamily general contractor. The U.S. government continues…»
Lincoln Property Company Signs WageWorks as 1st Tenant at Union
Before it is set to break ground, the first building at Lincoln Property Company’s Union Class A office project has signed its first tenant. WageWorks Inc. (NYSE: WAGE) has committed to a 150,000-square-foot lease that will bring as many as 1,000 jobs to the development, located at the confluence of Mesa, Tempe and Scottsdale, in the heart…»