Commercial Real Estate & Business News – March 27, 2025

The second phase of construction has been completed for a mixed-use development in the Phoenix area billed as the “first walkable community of its kind.” Culdesac Tempe has been selected by a panel of local industry professionals as the winner of the 2025 CoStar Impact Awards for multifamily development of the year for Phoenix. Culdesac Tempe is designed to…»

The hotel will include three dining spaces, a rooftop pool and a fitness room. The ground floor will have a recessed two- and three-story lobby that will feature a sculptural stair, art and a lively café intended to be visible from the street and enhance the overall pedestrian experience, according to the developer’s description submitted to the city. A large entry canopy will provide..»

An increasing percentage of industrial occupiers are choosing to buy rather than rent their facilities, according to a CBRE study. Property sales to industrial occupiers grew 32% last year to 2,504, resulting in a 5% increase in the average sale price to $152.42 per square foot, said CBRE. The third quarter saw the most sales at 682 and the highest price per square…»

Discount giant Dollar Tree is offloading Family Dollar at a bargain basement price, roughly $1 billion, after spending about a decade of unsuccessfully trying to turn around the chain and finally searching for a buyer. Chesapeake, Virginia-based Dollar Tree on Wednesday said it had reached an agreement to sell Family Dollar to Brigade Capital Management and Macellum…»

Phoenix-based TerraWest Communities just paid $10 million in cash for a 210-acre parcel in the West Valley. Funded by New York-based JEN Partners LLC’s private equity real estate fund, TerraWest bought the vacant land near 219th Avenue and Sun Valley Parkway in Surprise from entities tracing to Wayne R. Moretti, according to Tempe-based real estate data firm Vizzda LLC…»