Commercial Real Estate & Business News – June 5, 2020

1 Million-Square-Foot Data Center Planned for West Valley
Stack Infrastructure, a technology infrastructure company based in Denver, plans to build a 1 million-square-foot data center on 79 acres in Avondale. The Avondale center will be the company’s entrance into Arizona, and will be built less than half a mile from where Microsoft is developing…»
Restaurants Face a Challenge If They Reopen with Limited Dining Capacity. What Can Landlords Do to Help?
The U.S. restaurant sector has sustained one of the heaviest blows during the COVID-19 pandemic as national quarantines forced the closures of restaurant dining rooms across the country. Full-service and casual-dining chains are less equipped to pivot to delivery and takeout, and many can’t…»
Phoenix Apartment Developer Sells its Property Management Division for $200M to National Firm
Phoenix-based Alliance Residential Co., which is busy building more than 1,000 apartment units in metro Phoenix, has sold its property management unit for nearly $200 million to Charleston, South Carolina-based Greystar Real Estate Partners LLC. Nationwide, Alliance has more than…»
Carlyle Group Acquires 4 Mesa Mobile Home Parks for $230M
The Carlyle Group made a huge splash in Mesa, acquiring four mobile home parks in the city for a total of $230 million, according to the real estate tracking website The portfolio sale consists of a total of 1,583 mobile home stalls on 187 acres, for an average of $145,293 per…»
Phoenix Leasing Activity Moves Forward, Though Struggling Segments Begin to Surface
The industrial sector has fared better than other commercial property types in Phoenix, but it has not been immune to the economic disruption caused by the pandemic. Current circumstances have created both tailwinds and headwinds for the industry. A sharp rise in online orders and…»