Commercial Real Estate & Business News – March 8, 2024

Construction is underway to bring more than 900,000 square feet of commercial real estate and housing to a corridor of northern Peoria known for its mountain views and hiking paths. Peoria officials and local businesses joined the Pederson Group, a Phoenix-based retail developer…»

It’s good news, with a touch of uncertain caution, in Federal Reserve Chair Jerome Powell’s delivery of the central bank’s semiannual monetary policy report to Congress on Wednesday. Starting with the upside for once. “We believe that our policy rate is likely at its peak for this…»

Annual commercial real estate sales activity fell to a nine-year low in 2023 as higher borrowing costs and downshifting property performance hampered deal flow. About $8.9 billion worth of Phoenix apartment, retail, office and industrial assets traded hands last year, marking…»

Whole Foods Market Inc. is introducing a new type of store with smaller footprints — think Trader Joe’s — designed for urban neighborhoods. While the stores won’t be as small as bodegas, Austin-based Whole Foods Market — bought by Amazon.com Inc (Nasdaq: AMZN) in 2017…»

A big chunk of southeast Mesa land could be home to a new data center campus. Pacific Proving LLC, a prominent Mesa land owner, is proposing to annex, rezone and gain site plan approval to develop 178 acres at the northeast corner of Crismon and Pecos roads to create the…»