Commercial Real Estate & Business News – November 4, 2020

Big-Box Retailers Drive Leasing Activity in Phoenix
The retail sector has been hard hit by the recession, but Phoenix is pulling through. The market had positive net absorption in the third quarter, driven largely by activity from big-box retailers. According to a report from Colliers International, Phoenix posted 101,270 square feet…»
Some Apartment Markets Draw Eye-Popping Rent Growth in Pandemic
Demand for apartments in more affordable Sun Belt cities is rising while asking rents in pricey coastal cities are falling as the pandemic roils the country’s apartment markets. To get a better sense of what’s driving both the best and worst metropolitan areas for rent growth, CoStar Analytics analyzed the top…»
Arizona Awarded 7 Incentive Grants to Create 5,000 New Jobs in 2020, Report Shows
Seven companies promising to create 5,195 new jobs in the state were awarded incentive grants from the Arizona Competes Fund in the 2020 fiscal year, according to the annual report released by the Arizona Commerce Authority, which oversees the fund. The grants awarded in the fiscal…»
ReplaDestinations Buys Survey Conveys CRE Prices Are at Fair ValueAcres NearPhoenician fo$65.5 Million
Real estate investors are starting to feel a little bit better about things. While there has been little change in mood among occupiers over the third quarter, investor sentiment is slightly less negative than the previous quarter, according to the RICS’ Global Commercial Property…»
Thayer Manca Buys Second Tucson Community for $66M
Thayer Manca Residential (TMR) has acquired Entrada Apartments, a 424-unit community in Tucson, Ariz. for $65.5 million. The transaction marks the multifamily investment firm’s largest purchase to date and its second in the metro area. According to Yardi Matrix data, MG Properties Group bought the asset…»