Commercial Real Estate & Business News – September 29, 2021

Over the last few years, bolstered by an unprecedented boom in e-commerce and retail sales, the industrial sector has posted historically high demand and supply growth. And that’s led some analysts to question how long the ride can last for the sector that’s relatively unaccustomed to such a meteoric rise. In short, some are…»
Arizona has added nearly 1 million people over the past decade or so, yet hardly any sizable shopping centers were built over that span.But that’s about to change in a notable way next year when mall operator Vestar breaks ground on three new open-air shopping centers — two in Queen Creek and one in Peoria, all on undeveloped land. The…»
Build-to-rent housing was a hot topic of conversation at September’s Valley Partnership breakfast. Planned from inception to be rental homes, these units typically are grouped together in one area, similar to a master-planned community, and all of the residents are renters. Though the term “build-for-rent” can include townhomes and duplexes, the...»
For the first time since the onset of the pandemic, the amount of available office sublet space across the United States has fallen quarter over quarter. Through late September, roughly 205 million square feet of office space was being advertised as sublet availability, down from more than 207 million square feet at the end of the…»
The Scottsdale Planning Commission voted 4-3 Wednesday to recommend that City Council approve the rezone request for a controversial 338-unit apartment complex near the intersection of 92nd Street and Shea Boulevard. Commission Chair Renee Higgs, Vice Chair Joe Young as well as commissioners George Ertel and…»