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Commercial Real Estate & Business News March 20, 2019

Bioscience Is Creating a More Stable Market in Phoenix
Bioscience and life science are growing rapidly in Phoenix, and the industries are fueling local economic, job and population growth. In the long-term, they will also ensure more stability for Phoenix-an important characteristic for a market that was hit so badly in the last recession. It could also mean longer future growth for the market. “For Phoenix, growth in the…»
Mesa Planning Board Set to Discuss Massive Mixed-Use Project
The Mesa Planning and Zoning Board is scheduled on Wednesday to discuss Gallery Park, a proposed 40-acre mixed-use project, planned to include entertainment, office, retail, education, hospitality and residential uses. The developer, Vivo Partners, is requesting Mesa annex 40 acres into the city, rezone the parcel to allow the…»
Greater Scottsdale Airpark 2030 Report Highlights Mixed-Use
Colliers International in Arizona has released its Greater Scottsdale Airpark 2030 Report, which highlights market conditions and predictions for the popular Scottsdale Airpark submarket.  The area is experiencing more mixed-use development, as well as significant renovation and redevelopment of its valuable property. “The Scottsdale…»
Scottsdale Homebuilder Closes on $25M Land Parcel in Chandler
Maracay Homes has paid $24.6 million for an 82-acre parcel next to the Veterans Oasis Park in Chandler, to complete the homebuilder’s 236-acre total assemblage in an area that stretches into Gilbert. The new community in Chandler, to be called Canopy, will include 241 homes. Total development costs will be $38.6 million, said…»
Phoenix Ranks 2nd for Data Center Activity in U.S.
Phoenix was the second-most active market in data center leasing in the U.S. in 2018 – ahead of metros such as Dallas-Fort Worth and Silicon Valley – driven by increased demand from cloud and enterprise users, according to CBRE’s latest U.S. Data Center Trends Report.  Phoenix registered 41.6 megawatts (MW) of net absorption,…»