Commercial Real Estate & Business News – June 29, 2021

Consumer spending in the United States stayed flat in May, according to data released by the Commerce Department on Friday. But the details underlying the report point to a strong summer season for retailers, the travel industry and entertainment venues, as consumers…»
While Apache Junction is making big strides to become “the next Mesa,” southeast Mesa continues to launch one huge project after another. Buoyed by the success of Eastmark and Cadence, a developer is launching another planned community that could bring another…»
Fox Cigar Bar recently purchased a two-story warehouse in Tempe, which it plans on turning into its new corporate headquarters. Fox Cigar, which operates two cigar bars in Old Town Scottsdale and in Gilbert, purchased a 21,179-square-foot flex/warehouse building a...»
Metro Phoenix’s median home price is poised to hit a record $400,000 in June, up almost $100,000 from a year ago. It’s become a bit of a broken record to report Valley home price records each month, particularly for buyers. But that’s the price forecast based on pending…»
The housing market and homebuying demand continues to cool as mortgage rates tick up above 3% for the first time in 10 weeks, according to a new report from Redfin, the technology-powered real estate brokerage. The Redfin Homebuyer Demand Index—a measure of…»