Commercial Real Estate & Business News – September 24, 2020

More Apartments are Coming to Downtown Phoenix. This Time, They’re Affordable
Despite the fact that 4,000 apartments units are under construction and even more are in the pipeline in downtown Phoenix, Michael Lafferty says the $29 million project he’s building is absolutely necessary. The founder of Phoenix-based Lafferty Construction Co. has started…»
Pandemic Creates Surging Demand for Cold Storage Industrial
Once again, the industrial sector seems to be the biggest beneficiary of the pandemic. While e-commerce companies in general have experienced increase demand and consumer traffic since the start of the pandemic, food and beverage products top the list of online sales…»
Arizona RV Park Sold for Record-breaking $88M
In a record-breaking deal that closed on Sept. 22, an Arizona RV resort in Apache Junction with 1,119 spaces sold for $88 million. “The buyer is a market leader in RV Resort Communities,” said Derek Harris, founder and principal of HARRI5, a Scottsdale…»
Retailers Restructured and Disposed Assets During the Last Downturn. Here’s How This Time Is Different.
The pandemic is forcing grappling retailers across the U.S. to make tough decisions. Some are trimming store fleets or shutting down operations altogether. According to a recent report from retail data firm Coresight Research, 20,000 to 25,000 U.S. stores could permanently…»
Phoenix Investor Buys Land in Mesa, Arizona, Proposed for Retail Project
A Phoenix investor and real estate developer bought land for a retail center proposed to anchor a hotel, office, medical and residential project in the fast-growing Phoenix suburb of Mesa, Arizona. Aaron Klusman, co-founder and managing partner…»