Commercial Real Estate & Business News – May 20, 2021

As we move deeper into 2021, the U.S. commercial real estate (CRE) market is poised to move beyond its trough of 2020 and enter a new cycle of growth. Thanks to a reported 3.8% increase in GDP and the mass distribution of COVID-19 vaccines,…»
Arizona consumers are about to face a seemingly nonstop barrage of advertisements from online sportsbook operators as sports betting becomes legal in the state and a horde of businesses look to introduce themselves to sports fans. While it might…»
Strong demand is likely to fill millions of square feet of industrial space now under construction, according to “Industrial Trends in Austin, Seattle, Phoenix and Miami,” a new report by CommercialEdge, a research and marketing service created by…»
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…»
As Arizona recovers from the pandemic, thousands of employers are ramping up hiring across the state and job growth is projected to remain steady for years to come. A new report projects more than a half million new jobs by 2029. Some sectors, however,…»