Commercial Real Estate & Business News July 2, 2018

Maracay Homes is investing $50 million to develop a master-planned community bordering South Mountain. The Scottsdale-based home builder paid $12.1 million for 70 acres, following a purchase last year of 83 acres for $10.5 million. Plans call for a total of 394 homes along Dobbins Road, between Seventh and 14th streets, abutting South Mountain Park on the south.…»
The 9-acre agricultural property located west of the northwest corner of Dobson and Frye roads, in the prestigious Price Corridor of Chandler, was recently purchased for $4,400,000. A 340-unit multifamily project, to be named The District at Chandler, is proposed to be built on the site, which got zoning approval in May 2018.…»
Phoenix is a Prime city. Amazon Prime, that is. According to an analysis by Shorr Packaging Corp., Phoenix is the third most Amazon Prime-friendly city in America. The list selects the best 25 cities in the U.S. for people who use Amazon Prime services based on 11 factors, including the amount of distribution space in the city and the number of Prime Now restaurants,…»
The planned extension of the South Phoenix light rail has been at the center of the city budget debates as many small business owners along South Central Avenue have protested the expansion and its current design plans. But Phoenix is not the first city to deal with the issues that arise when public transit comes to town,…»
The construction and sale of custom luxury homes is revving up again as population and employment continue to make solid gains in the metro Phoenix area. But keeping those sales in check is a labor shortage. Rod Cullum, president of Scottsdale-based Cullum Homes Inc., said home builders can’t get enough labor to build homes fast enough.…»