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Commercial Real Estate & Business News – October 20, 2022

Costco Could be Planning A New Business Center in This Valley City

A new Costco Business Center could be coming to an old Tempe computer superstore. Earlier this year, Costco Wholesale Corp. (Nasdaq: COST) submitted plans to the city asking to modify the exterior of the former Fry’s Electronics at 2300 W. Baseline Road, said…»

Leading Housing Market Economists Sound Off

 

The state of the single-family for sale market was summarized nicely by Lisa Sturtevant, Bright MLS, when she pointed out recently that there are 1.2 million homes listed for sale — and 1.6 million agents. Then Sturtevant, whose firm covers the mid-Atlantic region, added that…»

ViaWest to Build 2 Million Square Foot Industrial Campus

ViaWest Group is one step closer to commence construction on an industrial park featuring 15 buildings with nearly 2 million square feet of space. The developer purchased an initial 82 acres for the project’s first phase. The firm acquired a 82-acre site in…»

Local Developer Finishes 11-Building Industrial Park in Mesa Near Phoenix

A local real estate development firm has finished the last five buildings at the 11-building Metro East Valley Commerce Center, a 1.1 million-square-foot industrial park in Phoenix’s Mesa suburb. Metro Commercial Properties, based in Tempe, and its contractor, design-build firm…»

New York REIT Pays $142M in Cash for Valley Self-Storage Portfolio

New York-based Life Storage Inc. real estate investment trust paid $142 million in cash for a self-storage portfolio to various partnerships owned and controlled by Bill Levine and Andrew Cohn. Levine and Cohn, principals of Phoenix-based Levine Investments, developed the…»