Commercial Real Estate & Business News – July 8, 2020

These 9 Arizona Cities Among Top 20 in U.S. Bouncing Back Most
The latest jobs report shows the national unemployment rate at 13.3%, which is below the peak of 14.7% during the height of the COVID-19 pandemic. To provide more context at the city level, WalletHub today released its report on the Cities Whose Unemployment Rates Are…»
Phoenix Build The Palmeraie On Track for Its Yearend Opening
The pandemic has not rocked the Palmeraie. Five Star Development’s $2 billion mega luxury development in Scottsdale, a submarket of Phoenix, was able to work through the challenges brought on by the pandemic and the restrictions that came with it. Now, it remains on track…»
Amazon Buys 92 Acres in West Valley Inc. bought 91.5 acres of land in Goodyear for $19.85 million, according to real estate database Vizzda.According to Vizzda, Seattle-based Amazon bought the land from California-based Rados Properties. Allen Lowe of Lee & Associates represented Rados Properties…»
Construction Begins on $60 Million Aviation Facility at Mesa, Arizona’s Falcon Field
Construction management company GCON Inc. has started a 23-acre aircraft hangar and office project at Falcon Field in Mesa, Arizona, one of the nation’s busiest general aviation airports. The $60 million project to build almost 400,000 square feet of hangar and office space on the northwest…»
Merit Partners Affiliate Acquires 83 Acres in Phoenix to Develop New 900,000 SF Merit Sky Harbor Industrial Park
Cushman & Wakefield announced today the firm has brokered the sale of approximately 83 acres of land in Phoenix, Arizona. The property was acquired by an entity formed by Phoenix-based Merit Partners, which plans to construct a brand new approximately 900,000-square-foot…»