Commercial Real Estate & Business News – July 31, 2023

As Phoenix’s population continues to surge, with over 30,000 newcomers in the last three years, the demand for housing is reaching critical levels. Phoenix is in a unique position to solve its own housing crisis, considering it ranks third nationally for undeveloped and vacant land. A groundbreaking report…»

Mark Twain wrote that history doesn’t repeat itself, but it often rhymes. This could also be said of Federal Reserve interest rate policy, although it’s a lot less entertaining than “The Million Pound Bank Note.” For anyone who follows financial markets, it’s essential to have a good grasp on the course of…»

Last year, tourists in Arizona spent almost as much as they did in years prior to the pandemic, according to a study commissioned by the state’s Office of Tourism. Overnight visitors spent more than $28 billion last year, an increase of about $4.5 billion from 2021. 2022’s figures were…»

Picklemall, an innovative modular indoor pickleball concept that combines the adaptive reuse of mall spaces, technology and the love of the game, will open its first U.S. location at Arizona Mills on Saturday, August 5. The 104,000 square-foot, 16 championship-style court facility will…»

​Repurposing vacant office and retail properties into affordable housing seems like a two-birds-with-one-stone solution; it provides desperately needed affordable housing as well as a market for struggling office and retail sectors. These conversions, however, are complex and expensive…»