Commercial Real Estate & Business News – March 3, 2020

Phoenix Office Market Surges in 2019 as Major Leases, Sales Lead the Way
The Phoenix office market finished 2019 on a high note, with a decrease in the region’s overall vacancy rate and increases in net absorption, construction and rents, according to research from Colliers International.In 2019, 3.4 million square feet of new…»
New Phase of Park Central Revitalization Targets Northernmost Building
The Park Central development team is now working on a new phase of renovations to the iconic property, with the focus on one of the largest buildings on-site – opening up a unique opportunity for an up to 80,000 square foot floor plate in the central…»
Developer Targets Tech Tenants for New Midtown Phoenix Office Project
The developer of the planned Central Park mixed-use project to be built near Steele Indian School Park is beginning to market the office development’s first phase to potential tenants. “We kicked off our broker event about a month and a half ago,” Richard Garner, chief…»
Opinion: The Loss of Scottsdale’s Family-friendly Housing
While we hear lots of argument about how tall is “too tall” or how dense is “too dense,” very few candidates are talking about the real problem facing Scottsdale. For 20 years, our city has been headed down a path that will, if not reversed soon, permanently…»
Here’s How West Valley Cities are Working to Attract Office Development
The numbers definitely grab your attention. The West Valley (which is made up of Avondale, Glendale, Goodyear, Peoria, parts of Phoenix and Surprise) has a population of more than 1.7 million people, with an average household income of more than $70,000 per year…»