Commercial Real Estate & Business News – September 29, 2023

The next billion-dollar development project in north Scottsdale took another step toward reality on Wednesday. A rezoning for The Parque — a mixed-use development at the site of the former CrackerJax amusement park — was recommended for approval on Sept. 27 by the Scottsdale…»

For sale: lightly used regional sports park in Mesa. 41 pickleball courts. 22 soccer fields and more. $150M OBO. Call Henk Taylor. Not for sale: 320 acres of land. Nonprofit Legacy Cares hopes to execute a sale soon of Legacy Park, the sprawling amateur and youth sports facility in southeast…»

The West Valley in Phoenix is set to receive the largest supply addition on record this year, with more than 4,600 new apartment units expected to be completed by the end of this year. For comparison, the region had less than 3,000 cumulative net completions from 2010 to 2019. The West Valley includes many…»

As living costs rise, consumers have become more discerning and strategic in their approach to grocery shopping. Aldi has declared that the way people shop for groceries in Britain has undergone a significant transformation due to the current cost-of-living crisis. The company, which has…»

Higher interest rates have deflated real-estate bubbles across the world, according to UBS. Central banks have aggressively hiked borrowing costs over the past 18 months to combat inflation. The New York, Boston, and San Francisco markets are all fairly valued now, the Swiss bank said. One benefit of global…»