Commercial Real Estate & Business News – September 28, 2020

Valley Homebuilders Can’t Build Fast Enough; Sales Up in August Compared to a Year Ago
Local analysts see a bright future for the Phoenix housing market, as August turned out to be a solid month for new home construction. In August, homebuilders closed 2,107 sales, up 9.11% from the same month a year earlier. They pulled 2,537 permits in August, up 25.28%…»
The Pandemic is Changing Life Sciences Real Estate
As other segments of the economy have suffered in 2020, life sciences are emerging as a bright spot. Private investors have put more than $16 billion to work in life sciences in the first half of 2020, while the National Institutes of Health continues to up its grant volume. In 1994, NIH gave out $11…»
Solara at Mill Avenue in Tempe Sells for $77M
CBRE handled the sale of the 515-unit multifamily community Solara at Mill Avenue on behalf of a partnership between Acre Valley Real Estate Capital and BH Equities to Tides Equities for $77 million. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch and Danny Baker represented…»
Barclay, W.M. Grace Break Ground on 350K SF 303 Logistics
Project developers Barclay Group and W.M. Grace Companies joined today with local dignitaries to break ground on 303 Logistics, a speculative, 349,663-square-foot Class A industrial building directly fronting the Loop 303 freeway. Situated at the southwest corner…»
Phoenix Office Supply Now Outpaces Demand, Industrial Healthier, CoStar Says
Office leasing activity has begun to level out in the third quarter after a steep drop in April, but one expert expects the Phoenix metro will continue to see an overall reduction in space needs over the next few quarters. “I do expect supply to outpace demand…»