Commercial Real Estate & Business News September 20, 2019

The U.S. Commercial Real Estate Market Remains Strong Despite Global Economic Concerns Ten years since the economic expansion started after the Great Recession, commercial real estate remains strong. Many real estate professionals and investors expected markets, including real estate, to contract sooner, entering hyper-supply. At the 2015 CCIM Institute’s annual conference Sam Zell, the founder and chairman of Equity International, discussed the sale of…»
Wave of Speculative Development Signals Confidence in Phoenix Industrial Market
Phoenix industrial developers can’t build fast enough, even after new supply reached a decade-high last year. Developers have broken ground on nearly 4.2 million square feet of industrial space since July. Robust demand, fueled by strong employment and population growth, has tightened vacancies to under 7%, far below the market’s long-term average. While Phoenix has a…»
Rising Costs Impact Valley Homebuilders’ Ability to Deliver Affordable Housing
As demand in the Valley increases for entry-level homes, homebuilders are doing what they can to give buyers what they want, but how long they’ll be able to offer entry-level prices remains to be seen. “We really do have a perfect storm here,” said Jim Belfiore, founder and president of Belfiore Real Estate Consulting. “Costs are just rising so fast and it’s going to continue…»
Weitz Co. Starts $100 Million Senior Community Expansion In Retirement-Rich Phoenix
A developer has started an expansion of luxury independent-living senior community Sagewood that has reached near-full occupancy in Phoenix, a city that is outpacing the nation as a retirement destination. The Weitz Co. has begun construction on plans to grow the complex’s residences by 32% and add restaurants and recreation facilities, including an “18 hole championship…»
Verdigris Holdings Selects Arizona for Corporate Headquarters
Last year, Arizona launched its revolutionary financial technology sandbox, exemplifying a commitment to minimizing regulations and developing cutting edge business platforms. The sandbox has become a resource that has enabled many growing financial tech firms to burgeon. Verdigris Holdings – a startup that seeks to provide banking tools for underrepresented and low-income…»