Commercial Real Estate & Business News – May 18, 2021

With Arizona companies grappling with thousands of open jobs that they can’t fill, Gov. Doug Ducey announced this week that the state will offer a $2,000 bonus to get residents back to work. As part of the new program, Arizona will stop taking the federally subsidized $300-a-week expanded unemployment…»
Office availabilities in Phoenix have climbed to the highest rate since 2015, as overall demand remains down from pre-pandemic activity and existing tenants continue to list unused space for sublease. Market wide, availabilities have risen 380 basis points since the fourth quarter of 2019, to 17.7%…»
Retailers started announcing changes to face mask policies for fully vaccinated customers a day after the Centers for Disease Control and Prevention issued new masking guidelines. Trader Joe’s, Walmart, Sam’s Club, Costco and Publix were among the first to confirm updates to mask requirements…»
Mattamy Homes, North America’s largest privately owned homebuilder, announced that it has closed on a land purchase in San Tan Valley in the coveted San Tan Heights master-planned community. The 85-acre property, purchased for $20.56 million, is final platted for 324 home site…»
A former Phoenix Motorola manufacturing facility was sold and will be redeveloped for industrial or data center uses. Chicago-based Baker Development Corp. bought the 28.4-acre parcel at 1110 N. 52nd Street in Phoenix from Reich Brothers for $10.25 million, according to real estate database Vizzda…»