Commercial Real Estate & Business News – March 23, 2020

Scottsdale Entrada Breaks Ground on Opportunity Zone Site
Banyan Residential announced the start of construction on the long-anticipated Scottsdale Entrada development this morning. Located at the northeast corner of 64th Street and McDowell Road, Scottsdale Entrada will revitalize a long-vacant 33-acre lot…»
Arizona Tech Jobs, Wages, Average Pay Increased Over Past Year, Report Says
Arizona’s technology scene continues to grow and a new report shows increases in the number of tech jobs, wages and average pay in the past year. The Arizona Technology Council’s quarterly Arizona Technology Industry Impact Report shows that in Q4…»
Phoenix Cap Rates Tightened Last Year in Phoenix
In what could be the end of its upward trend as the coronavirus outbreak rages on, cap rates in Phoenix compressed across nearly all asset classes in the second half of 2019. According to a new report from CBRE, multifamily, industrial, retail and hotels all saw reduced cap…»
Coronavirus Creates Homebuyers’ Opportunity, Even as Some Valley Builders Close Sales Offices
The coronavirus pandemic is causing some homebuilders to close their sales offices in the Valley at a time when low mortgage interest rates are creating a window for homebuyers. Given the current COVID-19 pandemic, Scottsdale-based…»
Walmart Plans to Hire 3,700 in Arizona; Announces $365M in Bonuses
Walmart today announced plans to provide a special cash bonus for hourly associates for their hard work and dedication to serving customers in a time of an unprecedented national health crisis. The bonus is for all U.S. hourly associates in stores, clubs, supply chain…»