Commercial Real Estate & Business News October 22, 2018

Tucson has largely missed the economic recovery but three East Valley cities led by Gilbert have flourished, according to a new study that tracked the uneven pace of progress around the nation since the recession. Phoenix, Glendale and Mesa rank closer to the middle of the pack in terms of recent economic performance, looking at results from 2012 through 2016. The recession and gradual recovery reshuffled prosperity…»
The industrial real estate sector in the U.S. is firing on all cylinders, as e-commerce continues to grow at a rapid clip. And experts in the field say this is just the beginning. Even the name-industrial-is changing, with companies now preferring “logistics” (as is common in the rest of the world) instead. A recent report from CBRE found that online retail is behind man…»
Nikola Corp. is ramping up administrative and engineering staff as it anticipates manufacturing zero-emissions semi-trucks in Pinal County several years from now. The privately held company, which moved to the Phoenix area from Utah in July, currently employs about 70 people in Chandler as it builds a new headquarters in Phoenix south of Sky Harbor International Airport, said Britton Worthen, chief legal officer.…»
With home prices and interest rates both on the rise, will more people look to renting as their only “affordable” option for housing? It looks like that might already be happening. Newly released data from the National Association of Realtors shows that existing home sales fell to a three-year low in September, as home prices rose for the 79th straight month. That’s more than six years of monthly…»
Harvard Investments Inc., a Scottsdale-based developer of master-planned communities, is looking at how it can get into the increasingly popular hybrid single-family rental space. Tim Brislin, vice president of Harvard Investments, said he’s looking at ways the company would get into this new business line, whether building its own communities or partnering with a builder already developing these…»