Commercial Real Estate & Business News – September 30, 2020

Phoenix Home Prices ‘Grow Without Restriction,’ Lead Nation Again
Phoenix continues to set a blistering pace for year-over-year gains in home price growth on the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. While the national price increase was 4.8% in July, up 4.3% from the previous month, Phoenix doubled that growth with a 9.2% year-over-year…»
Phoenix Office Rebounded Swiftly After the Second Wave
The Phoenix office market rebound quickly after the second wave of the pandemic struck the market in July. During the summer months, Arizona made headlines as one of the nation’s hotspots for the coronavirus outbreak. Although the outbreak was severe, office lease transactions stalled for…»
Optima Debuts 2nd Luxury Apartment Tower in North Scottsdale
Right on time to meet the recent increase in demand for elevated apartment living in the greater Phoenix-metro area, real estate development firm Optima announced today the opening of the luxury apartment tower 7140 Optima Kierland in North Scottsdale, with immediate move-ins available and the…»
Commercial Real Estate Prices Regain Some Ground
Commercial real estate prices showed modest gains in August after sustaining losses in the early months after the U.S. coronavirus outbreak, according to the latest monthly CoStar Commercial Repeat Sale Indices. Even so, both indices show prices remain below pre-pandemic levels…»
Developers Start Construction on Large Industrial Facility in Phoenix Suburb
Developers Barclay Group and W.M. Grace Cos. have started construction on a speculative industrial building in the western Phoenix suburb of Glendale, Arizona, where demand is rising for logistics real estate amid the coronavirus pandemic. The planned 349,663-square-foot facility, known as 303 Logistics…»