Commercial Real Estate & Business News – July 21, 2023

The US economy has continued to show remarkable strength over the past year despite a barrage of warnings from CEOs and economists that a recession is on the horizon. Even the most recent batch of jobless claims data shows just how resilient the jobs market, and therefore economy, continues…»

New documents have been submitted for high-end restaurants, retail and residential on a prominent corner of Scottsdale. Earlier this month, Stockdale Capital Partners filed plans for “Scottsdale City Center,” which is phase two of a mixed-use development in Old Town Scottsdale. This latest…»

Optima Kierland is finished – finally. Optima announced the grand opening of 7190 Optima Kierland, the fifth and final Optima tower at Kierland in North Scottsdale. The 10-story tower has 216 units including studio, one-, two-, three-bedroom and penthouse apartments…»

PHOENIX — Roads are congested. Wait lines are – yet again – a drag. The snowbirds have returned. That’s right. Tourism in Arizona is bustling, and it’s busier than ever. Tourists across the state spent $28.1 billion in 2022, equating to $77 million spent each…»

​June posted month-over-month increases in home sales (up 5.4% from May) and inventory (up 7.2%) while year-over-year activity continued to trail the strong results of early 2022. June 2023 home sales were 18.7% below last June’s, contributing to a first-half 24% decline…»