Commercial Real Estate & Business News September 24, 2018

Data center activity is surging across the country, and-like other West Coast markets-Phoenix is benefiting from the growth. The market had 32.5 megawatts of net absorption in the first half of 2018, making it the second market in the country to Northern Virginia for data center activity, according to research from CBRE. This is also a record pace for the year for Phoenix. The activity was led…»
PHOENIX – Global tech consulting firm Infosys announced Thursday it would open a technology and innovation hub in Arizona, pledging to create 1,000 jobs by 2023. The location hasn’t yet been determined, but build-out will be completed quickly when it is, Infosys President Ravi Kumar said during a news conference. Kumar said hiring would begin immediately, adding to the company’s…»
Axon Enterprise Inc. has secured a 69-year, $10.3 million lease on tribal land for its new headquarters. The Scottsdale-based law enforcement technology company, formerly known as Taser International Inc., signed the lease Sept. 14 with Apex Park at Pima LLC, on the east side of Loop 101 on Salt River Pima-Maricopa Indian Community reservation, between Via de Ventura and Indian Bend.…»
The 29-story apartment complex proposed on vacant land at the Arizona Center at Fifth and Van Buren streets is headed to the Phoenix City Council for a vote after the council’s planning and economic development subcommittee voted to recommend approval. The complex, called Palm Court Tower, will contain 354 apartment units, about 20 of which…»
Arizona’s commercial real estate industry has seen many more ups than downs lately as the economy has continued to improve. That improvement has led to increased interest in a spectrum of space for businesses that has seen sale rates for properties rise from the doldrums following the Great Recession. According to second-quarter numbers from Colliers International Research Director…»