Commercial Real Estate & Business News – May 12, 2023

Could Southern Arizona Become Battery Manufacturing Capital?

Southern Arizona is establishing itself as a battery capital in the United States as battery manufacturing companies continue to select the region to be home to their operations. Through incentives, the City of Tucson is attracting manufactures that will boost economic…»

Retail Availability Falls to Record Low in Phoenix

The Phoenix retail market is now the tightest it has ever been as booming population growth, a tempered construction pipeline and continued demand have contributed to an unprecedented shortage of available space. The availability rate in the Phoenix retail market compressed…»

Site of Former Eyesore in Downtown Peoria could Soon get New Life. Here’s what is Planned

A long-vacant property in Peoria, once called one of the West Valley’s biggest eyesores, could soon see redevelopment, if given final approval by the City Council. Overland Corp., a Utah-based developer, bought the 7.5-acre parcel near Grand and 85th avenues, which was the site of a Smitty’s…»

Despite Decades of Planning, Industrial uses Persist along the Rio Salado in Phoenix

For decades, residents of south Phoenix and Phoenix city leaders have envisioned the land just south of the Rio Salado as a gateway to south Phoenix, where Black and Hispanic residents make up most of the population. A community plan approved by the Phoenix City Council in 2022 — funded…»

Here’s How Phoenix-Mesa Gateway Airport Area has Become a Hotbed for Big Deals

Located on the southeastern edge of the Valley, the Phoenix-Mesa Gateway Airport has been a magnet for development, with the City of Mesa’s nearby Elliot Road Technology Corridor and Pecos Advanced Manufacturing Zone attracting millions of square feet…»