Commercial Real Estate & Business News – March 7, 2023

Phoenix Ranks No. 2 for Most Industrial Real Estate Under Construction

With a total of over 52 million square feet of industrial space under development, Phoenix ranks 2nd among the largest U.S. markets by industrial real estate currently under construction, according to CommercialSearch’s latest study…»

22-Story Apartment Tower in Downtown Phoenix will Begin Housing Students Next Year

A redevelopment project in downtown Phoenix aiming to make better use of the transit depot at Central Avenue and Van Buren Street is on track to begin opening for student housing in the fall 2024 semester. Central Station, which will include…»

California Builder Razing Homes in Phoenix’s Arcadia Lite Neighborhood, Building New Houses

A California homebuilder is buying homes in the Arcadia Lite area of Phoenix, razing them and building new from the ground up. Aliso Veijo, California-based Thomas James Homes Inc. just closed on its first home last week. It just finished its…»

4,150 Acre Land Site in Florence Sells, Planned for 12,000 Homes and Commercial Space

GTIS Partners, a global real estate investment firm managing $4.3 billion in gross assets with a U.S. focus on residential and industrial/logistics investments, announced the sale of 4,150 acres at Merrill Ranch to El Dorado Holdings. Merrill Ranch is…»

Sprouts’ Latest Real Estate Strategy Means New Stores With Fresh Layouts, but Also Some Closures

Sprouts Farmers Market Inc. (Nasdaq: SFM), a Phoenix-based specialty grocery chain, unveiled a new real estate strategy during an earnings call on last week, which will lead to a lot of new stores opening and some older ones closing…»