Commercial Real Estate & Business News – June 8, 2021

America is aging. According to the U.S. Census Bureau’s National Population Projections, in the next few decades, 1 in every 5 residents will be older than age 65, a number that’s projected to outpace those younger than 18 for the first time in…»
The Phoenix medical office market is on fire. Strong investment activity in the first quarter has driven pricing to an all-time high of $373 per square foot, according to research from Colliers. Strong leasing activity supported the investment demand and…»
A shifting office market as companies decide where and whether they want to have permanent office space could drive more companies to try co-working for extra flexibility. “Companies have been slow to make real estate decisions,” Ryan Timpani, managing director at…»
Apartments investors have had to adjust their expectations—and their construction budgets—to account for the rising cost of lumber, steel and other materials. But these developers are still rushing to build new apartments. If they have already started…»
Metro Phoenix is drawing more millionaires — or at least buyers who can pay $1 million or more for a home. Million-dollar home sales in the Valley hit a new record in April, up 32% from December 2020’s record. Valley mansions and spacious condominiums with…»