Commercial Real Estate & Business News – July 22, 2022

Former Phoenix Public Market Café Razed. Here’s What We Know About Plans for The Downtown Site

Downtown Phoenix activists sought to stop the demolition of the former Phoenix Public Market Café, but a developer razed the 76-year-old building this spring, shortly before selling it to another developer to build a 350-unit luxury apartment complex…»

One of the Largest VA Outpatient Clinics in the U.S. Finishes Construction


Hoefer Welker, a Kansas City-based architecture firm, and U.S. Federal Properties (USFP), a Kansas City-based developer, recently finished construction on an outpatient clinic for the U.S. Department of Veterans Affairs (VA) located in…»

Construction, Retail Industries Drove Surge in Valley Industrial Leasing in Q2

Strong leasing activity continued into the second quarter in the Phoenix metro industrial market, which is on pace to surpass a record-breaking 2021, according to real estate experts. During the second quarter, about 6 to 7 million square feet of space was…»

National Data Center Operator Buys 400-Acre Industrial Site Near Phoenix

Data center development giant QTS Realty Trust paid more than $255 million to buy nearly 400 acres in Glendale near Phoenix, which has taken off recently as a hub for centers providing bandwidth for e-commerce, social media and other technology enterprises. QTS paid almost…»

Two Years of Median Home Price Growth Ended in June, Arizona Regional MLS Data Shows

Two years of median home price growth in the Arizona Regional MLS ended in June when the median sold price dipped to $500,000 compared to $510,000 in May. It’s the largest month-over-month drop in the ARMLS Total Sales Report data, which goes back to…»