Commercial Real Estate & Business News November 7, 2019

Construction Materials Costs Are Expected to Rise The prices of many construction materials may rise again in 2020. “I think the lull in materials cost increases is close to ending,” says Ken Simonson, chief economist for the Associated General Contractors of America (AGC). Despite trade tensions between the U.S. and nearly all of its major trading partners, the cost of many materials used…»
Scottsdale Custom Homebuilder Snags Coveted Paradise Valley Land
More than five years in the making – even requiring the involvement of FEMA – Rod Cullum finally is ready to begin building eight custom homes on the Camelback Country Club Golf Club. The 9 acres adjacent to the golf course in Paradise Valley had been designated as a flood plain zone by the Federal Emergency Management Agency, which…»
How Will Phoenix Absorb New Retail Development
Along with the rest of the market, Phoenix retail is experience a growth spurt. According to a recent report from Colliers International, vacancy is down and net absorption and rental rates are up. The activity has triggered strong new development activity. While only 91,000 square feet of retail delivered in the third quarter, there is 686,000 square feet…»
Optima Completes Final Phase of Sonoran Village Construction
Award-winning real estate development firm Optima completed construction of Optima Sonoran Village while launching its new white-glove, in-home concierge program, Optimized Service™, at all its Arizona rental properties. The fifth tower completes Optima Sonoran Village, downtown Scottsdale’s premier high-rise, luxury apartment community with…»
Take a Look Inside Tempe’s New Whole Foods Market
The Valley’s latest Whole Foods Market Inc. store opened in Tempe Wednesday morning. The 40,000-square-foot store, at 750 S. Ash Ave. on the ground floor of the $100 million mixed-use project called the Local, includes a bakery, full-service butcher, seafood department with a self-serve poke bar, hot and…»