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Commercial Real Estate & Business News October 2, 2019

Deloitte Leases 100K SF at The Commons at Rivulon Deloitte has doubled its current lease at The Commons at Rivulon in Gilbert, Arizona, by 100,000 square feet. Nationwide Realty Investors owns the property, which currently has two additional buildings under development. Deloitte moved into the first 100,000-square-foot building at 310 E. Rivulon Blvd. in late 2018…»
3 Projects that are Shaping the Future of Downtown Phoenix
The evolution of Downtown Phoenix continues, and there are three key projects leading the market forward, The Link PHX, Block 23 and two buildings going up at the newly renovated Arizona Center – the AC Hotel by Marriott and Palm Tower, a residential tower. All of these projects are in different stages of development, but the tallest of the new buildings, The Link PHX, will be the first one to be delivered…»
Phoenix Homebuilding Sector Rising from the Ashes
Once upon a time, Phoenix was known for building houses. Seems it is becoming that way again.This week, an Urban Land Institute report ranked Phoenix as one of the top 10 homebuilding markets in the U.S. It marks a 10-spot gain from ULI’s report in 2018.Clearly the housing market has recovered, finally, from the Great Recession…»
Lincoln Property Company buys 71.5 acres in Glendale for $11.7M
NAIOP Arizona 2018 Owner and Developer of the Year Lincoln Property Company has closed on 71.5 acres in Glendale, Arizona for $11.7 million, initiating development of Park303. The new $115 million speculative Class A industrial project will have the flexibility to include two buildings totaling 705,531 square feet and 488,995 square feet, or combine into one single building totaling almost 1.26 million square feet…»
Is Legal Cannabis CRE’s Next Big Tenant?
With 10 states plus Washington, D.C., legalizing cannabis for recreational use and medical marijuana legal in another 23 states, the marijuana industry is providing an opportunity for those in the commercial real estate to dip their toes into something new. According to the National Institute for Cannabis Investors, legal cannabis sales are projected to grow from $10.8 billion in 2019 to nearly $100 billion in the next five years…»