Commercial Real Estate & Business News – September 21, 2022

Portico North Scottsdale is 60% Reserved Before Groundbreaking

Belgravia Group, Chicago’s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, announced that its first-ever Phoenix metro community development, Portico, located in North Scottsdale, is more than…»

Residence Inn Phoenix Desert View at Mayo Clinic sells for $50.5M


Dreamscape Companies, a New York-based real estate and investment firm, today announces its first foray into Arizona’s red-hot Phoenix market with the acquisition of the Residence Inn Phoenix Desert View at Mayo Clinic, an extended-stay hotel. With the Mayo Clinic preparing to…»

Indiana Real Estate Firm Plans Apartment and Retail Project in Phoenix’s Gilbert Suburb

Thompson Thrift Commercial plans to increase its holdings in Arizona with a 300-unit apartment and retail development in Phoenix’s Gilbert suburb. The company, based in Indianapolis, plans to break ground in the first half of next year on the project — representing a…»

Utah Developer Proposes 4.4 Million-Square-Foot Industrial Facility in Fast-Growing West Valley

Another large industrial park is being proposed for the fast-growing Loop 303 corridor in Glendale adjacent to a facility that will house global sportswear company Puma. The new 4.4 million-square-foot campus will be called Parkway 303 East and be developed on the…»

Phoenix Metro Drives Data Center Growth, Leasing In The US

The Phoenix metro is struggling to keep up with data center demand as it tops the nation in construction and leasing, according to real estate experts. The Valley had 280 megawatts of absorption, which is how much new power was occupied minus what became…»