Commercial Real Estate & Business News – November 12, 2020

Phoenix Industrial Market Fueled by Pandemic
The Phoenix industrial market has surged during the pandemic, according to a new report from Colliers International. In the third quarter, industrial absorption was 2.5 million square feet in Phoenix. The activity is driven by increased ecommerce spending, which has fueled national growth in the sector. This is the sixth…»
What Family Offices, HNWIs Think of Retail Assets in the Current Market
The U.S. retail sector has taken a beating due to lockdowns and social distancing and the continued acceleration of e-commerce sales during the COVID-19 pandemic. Much of the retail sector was already grappling pre-COVID-19, and investment sales have dropped significantly. In spite of overall…»
Scottsdale Developer Readies New Commercial Corridor in Glendale
The owner of a 66-acre site west of Loop 101 in Glendale primed for commercial uses is now seeking to sell the majority of the property for development. Shelby Duplessis, president of land development for Scottsdale-based Empire Group, said the site, called Desert River 2, which recently completed…»
Hines to Start Construction of Luxury Apartments in North Phoenix
Hines is set to begin construction on a 325-unit luxury multifamily project in north Phoenix, after closing on development financing with Alliance Bank of Arizona. The Houston-based real estate developer is partnering with insurer MetLife as equity investors on the project to be built on 11 acres at the northwest…»
These Projects are Igniting Arizona’s Economy
There were a lot of factors working against economic development in the past year, but Arizona’s economic development community and the Arizona Association for Economic Development (AAED) found ways to not just survive, but thrive in the face of a global crisis. The state saw new economic growth…»