Commercial Real Estate & Business News – September 22, 2022

For the third time in as many meetings, the Federal Reserve’s policy-setting committee raised its target lending rate by three-quarters of a percentage point, the latest step in its aggressive campaign to battle decades-high inflation. The unanimous decision on…»

A development application that called for more than 500 luxury apartment units and more than 14,000 square feet of ground floor commercial space was approved by Scottsdale City Council. The council gave unanimous approval for a site plan, landscaping and…»

Real estate firm Harbor Group International bought its fifth and sixth apartment complexes in greater Phoenix in the latest sign that investor demand is still strong for multifamily properties in the Grand Canyon State. Harbor Group International of Norfolk, Virginia, paid…»

Shamrock Foods Company, a 100-year-old, multi-billion-dollar, family-owned Phoenix-based company, has acquired 81 acres from Crown West Residential Group at The Crossroads at Gladden. The planned distribution center will serve southern Arizona markets…»

Contour, a leading privately-held real estate and development company, announced yesterday the start of Phase I construction of Sossaman Park 202, a 1.55-million square foot industrial park in Mesa, Arizona. The announcement comes just days after Contour closed on…»