Commercial Real Estate & Business News March 21, 2019

Nation’s Largest Homebuilder Gobbling Up Big Chunks of Valley Land
Lennar Corp. (NYSE: LEN) is busy gobbling up land in metro Phoenix and there’s no indication the Miami-based homebuilder will slow down any time soon. “We are certainly committed to this market,” said Jeff Gunderson, senior vice president of land acquisition and development for Lennar, which became the nation’s largest…»
Real Estate Investors Expected to Unlock Trillions as Feds Finalize Opportunity Zone Rules. Here’s Where the Money Could Flow in Arizona
Washington’s political rancor is rippling across the nation’s real estate industry, as the recent federal shutdown has delayed a plan to unleash trillions in property investment in the country’s biggest cities and most impoverished communities. Specifically, the delay has affected new rules for investing in so-called Opportunity Zones,…»
Irgens Breaks Ground on Perimeter Center Office Building
Phoenix has announced the groundbreaking of its newest development, 17 Three Hundred at Perimeter Center.  The two-story, Class A office building, which is located at 17300 N. Perimeter Dr. is scheduled for completion in October. “This project is the second building within the Irgens Perimeter Center project,” says Jason…»
How’s the Economy? Count the Cranes to Find Out
To determine the health of the economy, you could scrutinize the minutes of Federal Reserve meetings, pore over the latest economic data and scour trade publications. Or you could simply look up. The towering cranes that rise above development sites can be a useful financial indicator, like consumer confidence polls or housing…»
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,…»