Commercial Real Estate & Business News – June 23, 2020

South Tempe Town Lake developments Pick Up Momentum
Development is ramping up on the south bank of Tempe Town Lake east of Arizona State University, as a mixed-use project called Pier 202 begins early construction work and a nearby build-to-suit office development is marketed to potential office users. The Pier 202 development includes 587…»
Final Beam Rises at Lincoln Property, Harvard’s Union Building One
Exactly eight months from its groundbreaking celebration, Lincoln Property Company (LPC) and Harvard Investments have placed the final beam at Union Building One – the first of four Class A office buildings planned at the confluence of Tempe, Scottsdale and Mesa, Arizona. When complete, the project…»
The Monday Morning Quarterback
The state and its major metro areas have turned an economic corner. The state gained 45,300 jobs last month. This net gain consisted of private sector job gains of 58,900 and government sector jobs losses of 13,700 mainly due to the seasonal hiring pattern surrounding schools…»
Metrocenter Mall Will Close After 46 Years of Business Due to Fewer Shoppers, COVID-19
Metrocenter Mall has entered its last ten days of business, according to a letter posted outside the shopping center and shared widely on social media. The letter, signed by general manager Kim Ramirez, thanked the community and the dozens of vendors who “have really become like a family…»
Developer Announces Mixed-Use Project in Downtown Gilbert, Arizona
Developer Creation Equity has announced a mixed-use development on nine acres in downtown Gilbert, Arizona. Known as Heritage Park, the project is designed to include a 184,600-square-foot, five-story office building, retail, apartments and a five-story, 150-room boutique hotel between…»