Commercial Real Estate & Business News – November 15, 2022

On The Rise: Phoenix’s Population Boom Boosts Local CRE

With a growing population bringing thousands of working-age people to an increasingly diversifying economy and a resiliency tested by the depths of the Great Recession, Phoenix is pushing its way to prominence on the national stage, drawing investment and attention as…»

Developer Set to Break Ground on New Mixed-Use Project in Growing West Valley City

About a year after receiving approval from the city of Avondale, construction is slated to start on a new 985,023-square-foot mixed-use project that’s being developed by Utah-based Overland Group Inc. Avondale Commons is set to bring new housing, a hotel, retail and office space to…»

Office Construction in the Valley is Dramatically Below Pre-Pandemic Levels, Experts Say

While several class A office buildings are nearing completion in prime Valley corridors, experts say the square footage under construction right now is below pre-pandemic levels. The following buildings were under construction at the end of Q3 2022, according to brokerage Lee &…»

2 Big Multifamily Projects Pass First Test

Two complexes that would bring a combined 492 apartments to an area near the intersection of 92nd Street and Shea Boulevard have won their first round of city approvals. The Scottsdale Development Review Board voted Nov. 3 to recommend City Council and City Planning Commission approval of…»

Arizona Ranks as No. 5 Best State to Hire Workers

A new study found Arizona is the No. 5 best state to hire workers. There are an unprecedented .5 unemployed workers for every one of the 10.7 million unfilled U.S. jobs. This marks the smallest talent pool for employers this century as the ‘Great Resignation’ endures and ‘Quiet Quitters’ – those who…»