Commercial Real Estate & Business News – March 20, 2020

$3.3B Gasoline Production Plant Comes To Casa Grande And Fast-Growing I-10 Corridor
The city of Casa Grande hit a real estate milestone today, as oil and gas company Nacero Inc. said it would build a $3.3B gas production facility there. Considered “drive-through” country between Phoenix and Tucson, Casa Grande is part of the fast-growing Interstate 10 business…»
Here’s Why Innovative Companies are Flocking to the East Valley
Mesa, Chandler and Gilbert were once viewed as sleepy bedroom communities. Today, they’re evolving into cutting-edge hubs of innovation and home to some of the most forward-thinking, technology-driven, innovative companies in the nation. Tempe, once seen as a raucous college…»
Phoenix Medical Office Vacancy Rate Expected to Increase This Year
The medical office market in Phoenix has seen increasing demand, with a falling vacancy rate since 2012. In the West I-10 submarket, the vacancy rate is as low 4%. However, this year, the vacancy rate is expected to increase, not because of the pandemic, but because new construction projects expected to deliver…»
Mortgage Rates Could Fall Again after Feds Recent Moves to Help Economy
Mortgage rates could dip again, after recent moves by the Federal Reserve to prevent a coronavirus-led recession. Market watchers say the Feds announcements Sunday to cut interest rates to 0% and begin purchasing $200 billion in mortgage-backed bonds…»
Phoenix-area Renters Facing Eviction Could Get Help Amid Coronavirus Crisis
Metro Phoenix renters facing eviction could stay in their homes until at least early April. Due to the coronavirus crisis, Maricopa County Justice Courts have asked justices of the peace to delay eviction hearings. Nearly 2,000 Valley residents are facing…»