Commercial Real Estate & Business News – October 26, 2022

Project Near Fashion Center Would Bring 529 New Apartments

Developers have big plans for a big hole in the ground on 3.73 acres of prime real estate near the intersection of Scottsdale and Camelback roads, next to the Arizona Canal and the Scottsdale Fashion Square. After sitting fallow for years, the site is on course to…»

Major Data Center Campus West of Phoenix Starts Next Phase

Vantage Data Centers started the second phase of a data center campus in Goodyear, Arizona, as developers race to meet rising demand fueled by greater Phoenix’s growing popularity as a national technology and e-commerce hub. The Denver-based developer is…»

Student Housing Has Record-Breaking Year

The student housing industry scored high marks for the third quarter, with fall pre-leasing closing at a record percentage and rent growth remaining strong. According to the new quarterly National Student Housing Report from Yardi Matrix, the pre-leasing period ended in…»

Valley Firm Becomes Master Developer of South Phoenix Food Innovation Center

The developers of a food innovation center and international market in south Phoenix are set to start construction on Tuesday, about two years after its initial plans received approval from the city. Called Arizona Fresh: Agri-Food Innovation Center, the…»

Default Threatens Owners’ Hold on Bell Bank Park

The organization that built the $280 million, 320-acre youth and amateur sports complex known as Bell Bank Park in southeast Mesa is in default of its loan that covered the project. A formal notice issued Oct. 18 by bond trustee OMB Bank to investors states that…»