Commercial Real Estate & Business News – March 31, 2015

The 350-acre Papago Park Center enters the final phase of development: The Grand at Papago Park Center has announced Lincoln Property Company (LPC) has been selected to develop the Class A and mixed-use office space. The project is a 60-acre, high-profile, urban mixed-use property on the last developable parcel within the 350-acre Papago Park Center in Phoenix… Read more »
Finding a house or apartment to rent in metro Phoenix has been getting harder for years, but low-income families are being squeezed out of the market the hardest. Some reasons… Read more »
Three of four new Arizona jobs in February were created in metropolitan Phoenix. Although the Phoenix metro houses 68 percent of the labor force, its 22,400 new jobs for the month, combined with Tucson’s 3,100, left only 4,100 jobs being created across the rest of the state. The Phoenix unemployment rate dropped to 5.4 percent from 5.9 percent last month. That’s lower than the national rate of 5.5 percent… Read more »
Construction has started on another restaurant hub in central Phoenix. A development called The Colony that will house an Herb Box restaurant, a gastro pub called Stock & Stable and a sushi restaurant from the owners of Pure in Scottsdale, is going up near Seventh Street and Missouri Avenue, just south of the popular eatery venue The Yard… Read more »
Chandler is well-known for the technology-driven Price Corridor and the massive back-office centers in Ocotillo, but the airport had been quietly developing. The city’s inventory of land for manufacturing and knowledge-based industries still offers opportunities and most of those are being aggressively marketed around Chandler Airport Center. The city has several projects under development, including a massive facility for Federal Express Ground… Read more »