Commercial Real Estate & Business News – November 3, 2021

Metro Phoenix has emerged as a hub for data centers — facilities that support diverse computerized operations, often for multiple corporate customers — and that progress is showing no signs of abating. Reasonable costs for…»
Zonda managing principal Kimberly Byrum says she is seeing the best apartment market fundamentals in her 30-plus-year career in the multifamily industry. “We think it’s smooth sailing for the next couple of years,” she says…»
Tech companies accounted for nearly one-fourth of all US office-leasing activity in the second and third quarters, a big uptick from 2020 figures and a 122% increase over Q1. CBRE’s annual Tech030 report notes that more than two thirds of…»
Update: The Phoenix City Council postponed a vote on selling 86 acres of land to the Arizona Department of Transportation for the construction of State Route 30 at its meeting Wednesday afternoon. A city spokesman said city staff requested…»
Real estate economists and analysts expect U.S. economic growth to be lower than previously thought this year as inflation rises more than initially forecast. And they predict industrial property will produce the best returns among…»