Commercial Real Estate & Business News – June 3, 2021

Developer P.B. Bell sold two apartment complexes in midtown Phoenix and Glendale, Arizona, to a private California investment firm for $128.2 million, as out-of-state buyers scoop up more Phoenix-area multifamily investment properties. JB Partners, based in…»
Going into the pandemic, there were a lot of questions about the future of brick-and-mortar retail. “We had a lot of the uncertainty underwriting, the national retailers [before then pandemic],” says John Hofmann, commercial production team leader for…»
Workers are expected to come back in full force in the next few months as COVID-19 restrictions lift across Arizona, and many employers are configuring just how to bring everyone back to the office — or not. One of Arizona’s leading real estate attorneys,…»
A Chicago-based developer is making its Phoenix debut in a big way. Hubbard Street Group — which has developed more than $3 billion in projects totaling 12.5 million square feet in seven states — plans to break ground this month on 26-story…»
Even as the remote-work era clouds the future for offices, one segment of the business is drawing cash from investors including Blackstone Group Inc. and KKR & Co. More than $10 billion has gone toward buying buildings used for life sciences and…»