Commercial Real Estate & Business News – September 3, 2020

Rio Reimagined Project Gets Boost with Federal Designation
This morning, representatives from the U.S. Environmental Protection Agency (EPA), Arizona State University (ASU), the U.S. Department of the Interior (DOI) and other federal, local and state partners held a live-streamed press conference to announce steps forward in the ongoing Rio Reimagined…»
First look: Arrive Hotels Makes its Debut in Phoenix
The Valley’s first Arrive Hotels & Restaurants-branded hotel opened this week in uptown Phoenix. The 79-room property with multiple food and beverage options is located at 400 W. Camelback in Phoenix. The hotel has been in the works for years, as Venue Projects and Vintage Partners turned two…»
Phoenix-Metro Condo Market Cited as “Most Robust” Through Pandemic
Polaris Pacific, the leading real estate sales and marketing group for new residential communities, announced today the introduction of a weekly, real-time market trend dashboard that measures changes to the condominium sector of eight core West Coast markets and provides data to navigate the complexities…»
Arizona Home Prices Are Among Nation’s Fastest-rising
Arizona is one of the top states in the nation for home price appreciation according to the recent Federal Housing Finance Agency House Price Index data release. The change in house prices between the second quarters of 2019 and 2020 was 5.4 percent in the nation, with Idaho home prices rising…»
Phoenix Drops Two Spots in National Commercial Real Estate Sales Ranking
About $4.4 billion worth of commercial real estate assets in Phoenix were purchased in the first half of 2020, putting Phoenix ninth among large U.S. cities for real estate transaction volume. According to a study done by Real Capital Analytics, which tracked sales worth more than $2.5 million, Phoenix dropped…»