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Commercial Real Estate & Business News – November 23, 2020

Phoenix Suburbs Are Thriving As Urban Apartments Play Catch-Up
Apartment demand in the third quarter approached a record-high in Phoenix, and rent growth is outstripping the national average. But early indicators suggest the strong performance may start to soften. Thousands of luxury apartments are underway, the state’s eviction moratorium has expired and rental…»
A Look Inside the Central Phoenix Boom in Healthcare and Bioscience
In Phoenix, the nation’s fifth largest city, a unique hub for healthcare and bioscience industries is rising in a revitalized part of the community. Phoenix’s healthcare hub is becoming increasingly critical as a result of the pandemic, but a boom was already underway in midtown Phoenix, making healthcare…»
Westcore Venture Starts Three-Building Industrial Park Outside Phoenix
Developers Westcore and The Opus Group broke ground on three industrial buildings along Interstate 10 in Avondale, Arizona, one of several districts in greater Phoenix experiencing an industrial development boom. Westcore said the developers started the 720,000-square-foot, three-building industrial campus…»
Fannie Mae Thinks We Can Avoid a Double Dip Recession
While the recent surge in Coronavirus cases is worrisome—and consumer behaviors and governmental policies happening in response to the nationwide increases could impact economic growth—they are unlikely to prompt a double dip recession, as some economists feared, stated Fannie Mae in a new report…»
Deal for Los Angeles, Phoenix Auto Dealerships Reflects Nationwide Consolidation
Real estate of a prominent auto dealership group serving the Los Angeles and Phoenix markets, including nine commercial buildings, has been sold for more than $178 million to one of the nation’s largest car retailers, which is seeking to accelerate consolidation in an industry hit hard by the coronavirus pandemic…»