Commercial Real Estate & Business News – September 22, 2020

Adjustments in Pricing Lag a Decline in Property Values
One thing that buyers and sellers can agree on these days is that there has been a reset in property values across many sectors and geographic markets. Yet the sticking point that continues to stall transactions is determining exactly how much of a discount should be applied…»
$250M Legacy Sports Park Breaks Ground in Mesa
More than 25 years of dreaming and planning and working through setbacks and dead ends were displayed on the face and in the voice of Randy J. Miller, as he took his turn at the podium during a groundbreaking ceremony for his $250 million Legacy Sports Park in Mesa. A visibly choked…»
Rents are Falling Near College Areas As Millions of Students Stay Home
Student housing landlords are feeling the pinch of the pandemic as college students are reluctant to move back to campuses across the country and many universities are delaying the start of in-person classes. College dorm food is getting replaced with mom’s cooking as 2…»
Thompson Thrift Plans $30M Sprouts-Anchored Development in Maricopa
Thompson Thrift Retail Group signed a lease with Sprouts Farmers Market to anchor Sonoran Creek Marketplace, a 75,000-square-foot project the company is developing in Maricopa, a fast-growing community about 35 miles south of Phoenix. The Phoenix-based specialty grocery…»
Lenders Appetite for Commercial Property Debt Dwindles
Commercial property activity has declined substantially this year, but it isn’t for lack of demand. Cash equity seeking commercial property deals is at an all-time high, according to data from Reonomy. At the close of 2019, there was $147 billion in cash equity available for commercial…»