Commercial Real Estate & Business News – July 25, 2023

Three years after starting the marketing process for a massive mixed-use project in midtown Phoenix and a lengthy reevaluation during the Covid-19 pandemic, Pivotal Group is set to bring “The Central Park” back in front of city officials. Pivotal Group Inc., a high-profile Phoenix real…»

May 2023 saw U.S. year-over-year multifamily rent growth turn negative for the first time since the Global Financial Crisis of 2007-2008. The decline was -0.6%. However, the data analytics firm Markerr’s outlook for the next five years was much more positive. It predicted that the top 100…»

There is now almost 49 million square feet of new industrial construction underway in metro Phoenix, created in part by 31 speculative groundbreakings that during the second quarter added an additional 6.6 million square feet of planned space to the Phoenix pipeline, according to the…»

The bankruptcy of home goods retailers Bed Bath & Beyond and Buybuy Baby will leave more than 10 big box spaces vacant in the Valley. Retailers, landlords, and commercial brokers could see an opportunity to write the next chapter of those empty buildings. Generally, a Bed Bath & Beyond…»

​A shuttered amusement park in north Scottsdale could make way for a $1 billion redevelopment with apartments, condominiums, office space, a hotel and retail development on the 28-acre CrackerJax site. George Kurtz, CEO of cybersecurity company CrowdStrike, bought the…»