Commercial Real Estate & Business News – November 4, 2021

The population surge of millennials, coupled with the housing supply shortage endemic across the US, will drive demand for single-family rentals in infill neighborhoods in high-growth markets, a SFR exec told investors recently. “We believe that the operating fundamentals for our…»

Phoenix officials are hatching a plan to breathe new life into vacant big box stores and other empty retailers and make a dent in the city’s housing shortage.Phoenix has a lot of retail space — an average of 40.5 square feet of retail per capita, compared to 28 square feet nationwide. Major…»

Phoenix-based Vermaland has begun efforts to develop a 1,100-acre master-planned community in Tonopah, which is about an hour west of downtown Phoenix. The master site plan for what is being called Verma Vistas III includes 2,500 single-family homes 500 multifamily units and…»

Zillow, the digital real estate company, said on Tuesday that it’s exiting Offers, its business that buys and flips homes, and eliminating 25% of its workforce. The announcement was attached to Zillow’s third-quarter earnings report. The company’s revenue and…»

Ribbons of concrete and asphalt crisscross Arizona to form the freeways that connect the state’s residents to regional neighbors and the world at large. These corridors facilitate the flow of peo