Commercial Real Estate & Business News – October 28, 2020

Developers Start Affordable Housing Project in Downtown Phoenix Opportunity Zone
A Los Angeles investor and a Scottsdale, Arizona-based developer specializing in opportunity zone projects started work on a 235-unit affordable housing project in downtown Phoenix. Pacific Oak Capital Advisors and Defer Gain broke ground on the St. Ambrose apartments at 1155 E. Van Buren St. at 12th…»
RED Development Adds New Tenants at Block 23 and CityScape Phoenix
RED Development continues to see strong demand from companies looking to expand business into Downtown Phoenix as the mixed-used developer announced a number of recently-opened and coming-soon tenants at Block 23 and CityScape Phoenix, including a variety of new restaurant concepts…»
$450M Scottsdale Redevelopment Was Decades in the Making
Brothers Shawn and Steven Yari first got involved in investing in property on the southeast corner of Scottsdale and Camelback roads in the late 1990s. “We realized it was an underutilized quadrant in a special corner,” Shawn Yari, managing principal of Los Angeles-based Stockdale Capital Partners, said…»
Chandler Factory Revamps for 5G Cellphone Growth with $100M in Upgrades
As 5G communication ramps up with the new Apple iPhone 12 and other next-generation cellular devices, a Chandler factory stands ready. NXP Semiconductors this week received a green light to start shipping its first components from an advanced Gallium nitride…»
ALDI Will Open First Arizona Stores on Nov. 5
Grocery shopping in Arizona is getting smarter, faster and easier. On Thursday, Nov. 5, ALDI, the low-price leader, is opening its first Arizona stores in the Chandler and Goodyear areas. Entry into Arizona is part of a national expansion plan that puts ALDI on track to become the third-largest…»