Commercial Real Estate & Business News July 29, 2019

Phoenix Remains Top Market for Rent Growth As Demand Outpaces the Wave of New Supply Phoenix continues to lead the nation in apartment rent growth, as demand outpaces elevated levels of new supply. As cited in the latest CoStar Phoenix Apartment Webinar, robust rent growth, both in apartments and single-family homes, and a shift in supply, represent a significant shift in the Greater Phoenix growth model. While Phoenix used to be known for…»
State Farm Hiring 1,100 New Employees in Tempe
State Farm, one of the nation’s largest insurance providers, recently announced its plans to hire approximately 1,100 new associates at its facility in Tempe, Arizona. “Tempe is a growing area where we’re looking to increase our customers,” said Alana O’Neal, a Talent Acquisition Specialist for State Farm. “So we’re expanding in…»
Health Companies Continue to Expand in Phoenix
Solera Health has signed a lease at the Monroe building in Downtown Phoenix, marking continued expansion for the medical tech firm. The firm signed an 11,000-square-foot lease at the property, augmenting its current 19,000-square-foot space in the building. The company moved its headquarters to…»
IN THE LOOP – New Valley Highway Seen as a Boon for Commercial Development
Arizona’s largest freeway project won’t open to traffic until the end of the year, but economic developers around the Valley already are planning for the new 22-mile stretch of Loop 202 to be much more than a way for commuters and trucks to bypass downtown Phoenix. “Employment corridors emerge along transportation routes,” said…»
First Plans Filed for Upscale NE Mesa Community
Conceptual plans have been submitted to the city that describe how an essentially untouched swath of desert auctioned off by Mesa would eventually turn into an upscale community with big lots for close to 300 homes. But the plan for the gated community – dubbed Reserve at Red Rock by developer Blandford Homes – is only a first draft…»