Commercial Real Estate & Business News – July 7, 2022

Phoenix Industrial Rent Growth Accelerates Through Second Quarter

Phoenix industrial rents grew by nearly 15% annually in the second quarter, an all-time high and one of the best performances in the country. Although rent gains continue to accelerate, the pace has moderated following 2021’s record surge…»

Casa Grande Moves Forward With Lucid Group Development Agreement


The city of Casa Grande moved forward with its portion of the development agreement for 1,300 acres with Pinal County and Lucid Group Inc. (Nasdaq: LCID) on Tuesday. The unanimous City Council vote came about a week after…»

Ducey Signs Off on $1B Investment to Secure Arizona’s Water Future

Governor Doug Ducey today signed historic legislation that makes an unprecedented $1 billion investment to secure Arizona’s water future, fulfilling a promise outlined during his State of the State address in January…»

The Apartment Markets at Greatest Risk for Oversupply

Multifamily construction in the US is at its highest level in 40 years. Currently, there are 824,000 units in development and 450,000 of them are expected to be delivered this year.’s National Director of Multifamily Analytics…»

P&Z Board Considers 4 Apartment Projects

The Mesa Planning and Zoning Board considered four multifamily residential projects in June, totaling 640 units, and wound up signing off on three and postponing a decision on another. June’s multifamily projects were…»