Commercial Real Estate & Business News – March 3, 2021

The U.S. economy has roared back to life in 2021, with first-quarter growth set to defy even the rosiest expectations as another fresh influx of cash looms. Manufacturing data Monday showed the sector at its highest growth level since August 2018. That report from the Institute for Supply Management…»

Following a record year for the industrial real estate sector in Arizona, a pair of Canadian companies, Hopewell Development and Nicola Wealth Real Estate, are beginning two industrial development projects in Phoenix. Hopewell, based in Calgary, Alberta, bought a 9.6-acre site in Chandler in late 2019…»

The economy may not go zero to 60 in the first quarter, but good news is on the horizon: according to a recovery timeline created by Cushman & Wakefield, it will gradually build up strength over the course of the year to what is expected to be a robust recovery. But first, the bad: we’re a few days into March…»

Investors are most bullish on the industrial sector as 2021 marches on, followed by the self-storage and multifamily sectors, according to a recent survey of 500 commercial real estate investors by Marcus & Milichap. Investors were asked to consider only the property in their current real estate portfolio in answering…»

A year after a voter referendum sank its Southbridge Two project, Spring Creek Development is back with a new plan to redevelop much of its property in downtown Scottsdale’s 5th Avenue shopping district. Plans obtained exclusively by the Progress show the new proposal differs significantly from last year’s…»