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Commercial Real Estate & Business News – March 31, 2023

Despite Everything, the U.S. is Still Considered a Safe Investment

The U.S. media continues putting rising interest rates and ongoing inflationary concerns in its headlines. Yet despite all of this, international institutional investors continue to view U.S. commercial real estate as “a preferred destination, relative to…»
25-Story Apartment Tower Proposed for Busy Corner of Tempe; Other Real Estate Deals to Know

A 25-story apartment tower is proposed for the northeast corner of Mill Avenue and University Drive in Tempe. Included in the proposed project are 453 apartment units and 3,800 square feet of commercial space on the ground floor, according to…»
Metro Phoenix Ranks No. 3 Among U.S. Cities for Most Vacant Land

Cities rise and fall based on the decisions they make regarding the best use of their resources — whether that’s the local talent pool, housing stock or business environment. And, contributing to all of these is…»
Chicago-Based Portillo’s Opens 5th Valley Location at Gilbert’s SanTan Village

Portillo’s, the Chicago-based fast-casual chain, has opened its fifth Valley location on the southeast corner of Williams Field and Santan Village Parkway in Gilbert. The grand opening officially is Friday, but…»
Unaffected by Interest Rates, Cash Buyers Rush to Close on Paradise Valley Luxury Residence

A luxury home in Paradise Valley recently sold for $8.8 million while a 3-acre vacant lot closed at $6 million — both cash deals. These big cash transactions indicate the luxury market is heating back up again, Valley real estate sector observers say…»