Commercial Real Estate & Business News – June 30, 2023

Leading real estate developer, manager and investor Sunbelt Investment Holdings Inc. (SIHI), along with general contractor Graycor Construction Company Inc., have debuted design plans for and started construction on Phase I of Camelback 303. The project initiates…»

A plan to develop Arizona’s tallest tower cleared its final hurdle Wednesday, as the Phoenix City Council approved a development agreement and tax incentive for the downtown Phoenix project. The development, called Astra, is planned by Aspirant Development, part of Scottsdale-based Empire…»

The Arizona Coyotes say they have identified a half-dozen potential sites to construct a privately funded arena and entertainment district to revive what might be the franchise’s last opportunity to stay in the Phoenix area. Speaking before the start of the NHL draft, president and CEO Xavier Gutierrez said…»

Although construction costs have spiked in the Phoenix metro in the past three years fueled by supply chain issues and other factors, it appears those prices are finally leveling off, according to a national report. The study, from global construction advisory, cost and project management firm Rider…»

A record one-quarter (25.4%) of homebuyers nationwide are looking to move to a different metro area, according to a new report from Redfin, the technology-powered real estate brokerage. That is up from 23% a year ago and less than 20% before the…»