Commercial Real Estate & Business News – September 14, 2020

Axon Buys 73.57 Acres in Scottsdale for $49.1M
Axon Enterprise, Inc., was the successful bidder during a public auction of State Trust land at the southeast corner of Hayden Road and Loop 101 in Scottsdale. The 73.57-acre parcel’s final bid price was $49.1million. Axon has been headquartered in Scottsdale since…»
Banyan Residential Breaks Ground on Phoenix OZ Project
Banyan Residential has started construction on another project within an Opportunity Zone in Arizona. The developer is expecting to see its first move-ins at Banyan Washington in late 2021. The 223-unit market-rate community is being built at 5321 E. Washington St…»
Phoenix Drastically Cuts Down on Home Sizes, Research Shows
Before COVID-19, homes had many roles, but serving as a workspace was niche. Now, the new reality requires our homes to double as entertainment and working spaces, with nearly half of the U.S. labor force working from home full-time. Phoenix may be one…»
14 Big Factors Driving Commercial Real Estate Trends This Year
The Covid-19 pandemic has created an unprecedented challenge for the real estate industry. Commercial real estate professionals have had to navigate new obstacles like virtual showings, finding buyers during an economic downturn and perhaps most significantly…»
U.S. Mortgage Rates Fall to All-time Lows This Week
Average mortgage rates for 30-year and 15-year mortgages fell to all-time lows this week, Freddie Mac said in a report on Thursday. The 30-year average is 2.86%, breaking the prior low of 2.88% set in the first week of August, and the 15-year average is 2.37%, beating…»