Commercial Real Estate & Business News – May 19, 2022

A new report from ComercialSearch, a commercial listing platform, finds that Phoenix ranks second nationally for industrial development growth in 2022. The firm recently sorted industrial property figures from its…»

More than 2.8 million square feet of office space traded in Greater Phoenix in the first quarter of 2022, according to CommercialEdge. The total square footage was 12 percent higher year-over-year, as some 2.5 million square feet of office space had…»

Lucid Motors (Nasdaq: LCID) has purchased two large vacant properties near its existing electric vehicle factory in Casa Grande. Pinal County records and real estate database Vizzda show that an…»

PHOENIX – Big-box electronics retailer Best Buy announced plans to open an outlet store in Phoenix later this year. The company said the store, which is near the demolished Paradise Valley Mall, will be converted to an…»

Homebuyers are seeing a dramatic drop in purchasing power as a result of rising mortgage interest rates surpassing 5% — but for now homebuilders still can’t keep up with demand. In his recent quarterly housing update for…»