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Commercial Real Estate & Business News June 6, 2018

As it inches closer to opening, the Churchill announced a list of tenants that will call the downtown Phoenix development home. The Churchill, which is being fashioned out of old seaport shipping containers at Garfield and First streets near Roosevelt Row, already announced Pedal Haus Brewery, State Forty Eight, Pobrecito, Cosas and Freak Brothers Pizza would set up shop at the anticipated complex…»
Nearly 3.1 million square feet of office space is currently under construction in metro Phoenix, according to a new report from CBRE. The construction pipeline is heavily weighted with speculative development, with only 35.6 percent of space preleased, an indication of strong developer optimism…»
One of the giants of technology companies is relocating its presence in Arizona by leasing a significant space at SkySong, The ASU Scottsdale Innovation Center. Oracle, headquartered in Redwood City, California and a company known as one of the largest and most innovative in the tech sector, is opening a +/-15,000-square-foot office in SkySong 3…»
Arizona State University is coming to downtown Mesa. The Mesa City Council Monday night approved a 90-year deal with ASU for a downtown campus, according to the Arizona Republic. That means Mesa now will pay nearly $64 million to construct a building for the state’s largest university in a move city officials hope will bring additional investment to its burgeoning downtown…»
The median sale price for previously owned, single-family homes in Maricopa County hit an all time high in May. According to real estate analyst Fletcher Wilcox, the sale price finally surpassed the previous high in June 2006, before the Great Recession. One of the reasons, he said, is that more people are moving to Arizona…»