Commercial Real Estate & Business News – September 23, 2022

JW Marriott Phoenix Desert Ridge Resort & Spa announced an $80 million transformation as it celebrates its 20th anniversary this year. Showcasing a fresh, modern design inspired by the surrounding destination, the expansive property, set across 316 acres of sweeping…»

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…»

As widely anticipated, the Federal Reserve on Wednesday afternoon again lifted the federal funds target by 75 basis points. The announcement of the rate hike is intended to both trim demand and reduce inflation over the coming months. Reaction to the…»

Contour,a California real estate development company, has started construction on a 1.5 million-square-foot industrial park in Mesa. The group recently closed on a $99 million loan with Pacific Western Bank for Sossaman Park 202, which was arranged by…»

As the advantages continue to erode for U.S. manufacturers operating in low-cost countries, interest in reshoring and near-shoring continues to climb. This is especially true in the age of COVID-19, with the pandemic’s near-crippling impacts on supply chains, including…»