Commercial Real Estate & Business News – September 15, 2021

A national developer has started construction on a West Valley industrial project, its first development in the Phoenix metro, and has plans to build more. Columbus, Ohio-based The Pizzuti Companies has just broke ground on Cotton 303 Logistics Center, a 915,160-square-foot speculative industrial building on 55 acres, located at the…»

Despite outcry from some city residents, development projects with approximately 835 apartment units are under immediate consideration by Scottsdale city officials. The controversial Greenbelt 88 project, which proposes 278 apartments and 25,000 square feet of retail space where the aging Lucky Plaza shopping center currently stands…»

(Bloomberg)—Distressed debt tied to retail enterprises is putting on something of a vanishing act.The overall amount of tradeable troubled debt has shrunk from near $1 trillion in March of last year to less than $60 billion as of September 10, data compiled by Bloomberg show. And the portion of that from the retail industry has…»

Ryan Willis had big plans for a 94-acre vacant parcel he was developing into a master-planned community in Casa Grande.He had been working with municipal officials and was expecting to be approved by Casa Grande City Council for 317 homes later this year so he could sell the G Diamond Ranch he was developing to a major homebuilder…»

Far fewer tenants are putting space on the market compared to last year, and some are taking their spaces back.As the COVID-19 pandemic in the U.S. reaches its 18-month mark, we are now in a new stage that is changing the equation for both office occupiers and landlords. The highly transmissible Delta variant of the virus is…»