Commercial Real Estate & Business News – June 26, 2024

Ryan Cos. Buys into Infill Spec Industrial as it Breaks Ground on Chandler Project

A major real estate player is looking to capitalize on the market for industrial buildings at key infill development sites across the Valley. Minnesota-based Ryan Cos., which has a big presence in the Valley, closed on more than 30 acres on June 17 near Chandler Municipal Airport on…»

Rents Drop More than 7% in These Phoenix Areas; Fountain Hills Now the Priciest

Renters in the Phoenix area are getting some relief from rising housing costs. Rents dropped in seven metro Phoenix communities during the past year and fell more than 7% in three areas: Scottsdale, Gilbert and Glendale, according to apartment research firm Zumper. Also,…»

Queen Creek’s LG Energy Solution named Manufacturing Project Of The Year

LG Energy Solution in Queen Creek was named Manufacturing Project Of The Year and Arizona was awarded a prestigious “Gold Shovel” award from Area Development Magazine in the 5-8 million population category, marking the state’s fourth consecutive gold shovel. The Shovel Awards…»

Arizona Unemployment Drops To a Record Low

Arizona’s unemployment rate has hit a new record low at 3.4% month over month. Doug Walls is with the Arizona Office of Economic Opportunity. “This rate beat the previous record low, a 3.5%, set back in August 2007 and also marks the fourth consecutive month…»

Hobbs Signs Bill That Could Help Coyotes Finance Arena Development

In an ironic twist, the same day the Arizona State Land Department canceled an auction for a chunk of property on which the former owner of the Arizona Coyotes wanted to build a new NHL arena, Arizona Gov. Katie Hobbs signed a law that could have helped him fund the…»