Commercial Real Estate & Business News – November 19, 2020

Amazon’s Online Pharmacy Targets Popular Net Lease Segment
Through the pandemic, pharmacies have been an e-commerce resistant segment of the real estate market. But that could be changing with a new announcement from Amazon. The e-commerce giant announced the launch of a new store, called Amazon Pharmacy, which will allow customers to complete…»
Phoenix Proves ‘Most Resilient Condo Market’ in Wake of COVID-19
Leading multifamily developer Optima is capitalizing on the resilient Phoenix condo market as the newest tower within its $500 million Optima Kierland development, 7180 Optima Kierland, is now 85 percent sold as it averages 4.5 sales per month, making it among the top two fastest-selling luxury…»
Seattle Investor Buys Second Tucson Apartment Complex for $65.5 Million
Thayer Manca Residential has expanded its apartment portfolio in Tuscon, Arizona, with its purchase of the 424-unit Entrada. The Seattle-based firm paid $65.5 million for the garden-style multifamily complex, making this its largest acquisition to date, the firm said in a statement announcing the deal…»
Council OKs Axon Rezoning Despite Pleas
Scottsdale City Council approved Axon’s futuristic new headquarters in northern Scottsdale despite requests from nearby residents for more time to address concerns. The City Council voted 5-2 on Nov. 10 to rezone the property for industrial use and make way for Axon’s new headquarters on 73 acres…»
Largest Build To Rent housing Community in Nation Sells in Phoenix
Christopher Todd Communities, one of the nation’s leading innovators in the Build To Rent housing segment, continues to evolve to feed the apparent insatiable appetite for single-family rentals after selling the largest Build To Rent property (by unit count) in the nation. The purchase of Christopher…»