Commercial Real Estate & Business News – July 26, 2017

The vacancy rate in the Phoenix market for industrial space came in at 9.2 percent in the second quarter, according to Commercial Properties Inc. That is down 4.1 percent from the previous quarter, according to CPI. That looks pretty good and looks even better when compared to a Phoenix regional office vacancy rate that still is near 20 percent…»
Aldi, a discount grocery chain that is popular throughout the Midwest and eastern U.S., will lay stakes in Arizona, along the growing Loop 303 industrial corridor in Goodyear. The company recently entered an agreement with Goodyear to open a regional office and distribution center and create 132 jobs in its first six years of operations. Aldi is in the process of buying city-owned and private land on Indian School Road and Cotton Lane…»
The motorsports destination that’s in the works in the Casa Grande and Pinal County areas is projected to add more than 6,000 jobs to the area, according to a recent report released by the project’s developers. Approximately 61 percent of the future Attesa employees will reside in Pinal County, according to updated projections from an Economic Impact Study by Elliott D. Pollack & Company…»
For the 3rd consecutive year, Vistancia has been awarded a Top 20 ranking among US master planned communities in RCLCO’s midyear report. Vistancia ranked 17 nationally and is the second best-selling community in AZ with 274 sales, up 31% year-over-year, among the master plan’s 3 actively selling communities – The Village at Vistancia, Blackstone at Vistancia, Trilogy at Vistancia…»
Some Western cities are driving the much watched S&P CoreLogic Case-Shiller Index for home prices. The latest Case-Shiller data shows its home price index up 5.6 percent nationally and 5.7 percent in the largest 20 cities. Some West Coast markets are leading the housing pack, according to the latest data. Seattle is up 13.3 percent the past year and 2.6 percent since the last month…»