Commercial Real Estate & Business News – July 15, 2022

June’s Average Multifamily Rent Tops $1,700 for First Time

It is becoming almost unanimous among apartment rent forecasters that what has been a strong rent growth run across most of the country in the past two years is starting to moderate. To name one example, CoStar just predicted that…»

Mekong Plaza Expanding in Mesa’s Asian District


Today, Mekong Real Estate Investment Group, owner of Mekong Plaza located in Mesa’s Asian District, broke ground on a more than 35,000-square-foot expansion of Mekong Plaza at the southwest corner of Main Street and Dobson Road…»

Inflation Spikes Again in Metro Phoenix, Maintaining Grim Lead of Highest Rate Among Big Cities

Inflation continues to climb at the national level, and it’s still running hotter in metro Phoenix than any other big city.Metro Phoenix inflation hit 12.3% over the 12 months ending in June, the federal Bureau of Labor Statistics reported…»

Virgin Galactic Brings Spaceship Manufacturing Facility to Mesa

Virgin Galactic Holdings, an aerospace and space travel company, today announced it has signed a long-term lease for a new final assembly manufacturing facility for its next-generation Delta class spaceships. Located in Mesa, Greater Phoenix area, adjacent to…»

Arizona Ranks No. 7 for Most Severe Housing Underproduction

Up for Growth, a cross-sector member network committed to solving the nation’s housing shortage and affordability crisis through data-driven research and evidence-based policy, today released a groundbreaking report that finds housing underproduction in…»