Commercial Real Estate & Business News – July 24, 2020

Aldi’s Launch of 70-Store Expansion Pushes an Atypical Real Estate Strategy
Discount grocer Aldi’s launch of a significant nationwide expansion, including plans for a Gulf Coast regional office and distribution center, marks its latest push to position itself in the top tier of major U.S. grocery store chains, partly by using a different real estate strategy…»
Nikola Corporation Breaks Ground On Coolidge Factory
Nikola Corporation (NASDAQ: NKLA), a global transportation leader in zero-emissions and infrastructure solutions, is one step closer to bringing a 1 million-square-foot manufacturing facility to Coolidge, Ariz. following an official groundbreaking ceremony on its…»
Phoenix Ends 8-year Run of Positive Office Absorption
The Phoenix office market has experienced its first quarter of occupancy loss in eight years, according to the newly released Q2 2020 Office Insight Report from the Phoenix office of JLL. However, the market continues to maintain positive long-term viability thanks…»
The Resilience in Phoenix’s Medical Office Market
Phoenix’s medical office market remains healthy despite a temporary downturn in sales activity due to the COVID-19 outbreak. The market added 244,956 square feet of inventory in the second quarter, with a vacancy of only 18 percent within those projects, according…»
Maricopa County Approves Redevelopment of Former Falcon Golf Club for FedEx Site
The Maricopa County Board of Supervisors voted Wednesday to approve a controversial development on the former Falcon Golf Club. The project will be a cross-dock truck facility for FedEx, according to public documents. Plans submitted to the county call for…»