Commercial Real Estate & Business News October 8, 2018

Sale prices increased for industrial buildings as absorption slowed in the third quarter of the year around the Valley. The median price for an industrial building was $106 per square foot, up from $97 in the second quarter, despite fewer properties selling in the quarter…»

Two hospitals are expanding in the growing West Valley. Sun City residents will have a new emergency room as soon as 2020 after the Banner Boswell Medical Center completes a $106-million expansion. In Goodyear, the Abrazo West Campus will get…»

Mattress Firm Inc. filed for bankruptcy protection Friday and will close stores in the Phoenix area within days. The country’s largest mattress retailer, and nearly 40 related entities, including Mattress Firm – Arizona LLC, filed for Chapter 11 reorganization Friday in U.S. Bankruptcy Court in Delaware. Houston-based Mattress Firm has been struggling for a while with increased competition from bed-in-a-box…»

Sprouts Farmers Market Inc. is looking to grow more in its home market. The Phoenix-based grocer, which specializes in healthy and organic food, plans to open a store on the southeast corner of Carefree Highway and 53rd Street in Cave Creek, a growing town about 27 miles northeast of Phoenix. Sprouts (Nasdaq:SFM) has not yet officially announced the new store…»

Metro Phoenix’s apartment boom is a pricey one. About 87 percent of all the new rental complexes to go up in the Valley in 2017 and this year are luxury apartments, according to new survey. Renters looking for apartments they can afford in the Phoenix area won’t be surprised by that statistic…»