Commercial Real Estate & Business News – November 13, 2023

The Arizona economic development community has worked diligently in the past few years to attract massive projects such as LG Energy Solution’s $5.5 billion battery factory in Queen Creek and American Battery Factory’s $1.2 billion facility in Tucson. Doing so requires these professionals to show the…»

Concern over commercial real estate loans — particular, though certainly not limited to, the office sector — has been driving increasing degrees of uneasiness among bankers, regulators, and the CRE industry. Some new data is further stoking concerns. Delinquency rates for CRE bank loans…»

Several major economic development opportunities and jobs could come as a result of the overwhelming support the city of Phoenix received this week from voters for a fresh $500 million in general obligation funds. All four of Phoenix’s general obligation bond measures were seen…»

The fate of a highly anticipated, billion-dollar redevelopment project is in the hands of Scottsdale City Council. On Nov. 13, Council will consider approving a development plan and zoning district map amendment that would make way for “The Parque” – a mixed-use development at…»

Alta Warehouse District, a 300-unit apartment complex in downtown Phoenix, sold in October for $82 million, or $273,333 per unit. The buyer, Brixton Capital, is a privately held real estate investment company based in Solana Beach, California. It owns and operates a portfolio valued…»