Commercial Real Estate & Business News – March 30, 2023

Phoenix Added the Third-Most New Jobs in the Country in January

Phoenix started the new year off on a high note, with a net gain of 19,200 nonfarm jobs in January, according to the latest data from the Bureau of Labor Statistics. That figure represents the strongest month-over-month increase in…»

NRF Forecasts Retail Sales to Rise From 4% to 6% in 2023

Retail growth is expected to moderate in the months ahead, but it will remain positive even as sales start to stabilize from pandemic-era highs. Retail sales in the United States are expected to grow at a slower pace this year than last, according to…»

Millennials Transitioned From Renter-Majority to Owner-Majority in 2022

In 2022, millennials became the largest generation in the U.S. to transition from renter-majority to owner-majority, according to new data from RentCafe. With 52% of millennials owning a home, the generation reached…»

Life Time to Join Paradise Valley Mall Redevelopment With Luxury Health Club, Residences

Living, lifting and more are coming to the site of the former Paradise Valley Mall. Luxury fitness club operator Life Time (NYSE: LTH) will expand to Paradise Valley Mall not only with a club but also with Life Time Living…»

Arizona State University West Plans Extensive Expansion in Effort to Triple Enrollment

For years, much of the nearly 300 acres at Arizona State University’s West Campus in Glendale has sat vacant as the public university continued to invest millions of dollars in its other three campuses across metro Phoenix. But now…»