Commercial Real Estate & Business News September 7, 2018

Banner Health wants to fill 1,500 positions at its facilities throughout the metro Phoenix area. The hiring surge comes at a time when hospitals in Arizona and nationwide are experiencing a nursing shortage. “The labor market is really tight right now because the economy is so good and unemployment is low,…»

Despite an economy that has enjoyed almost uninterrupted positive growth since the deep recession of the late 2000s, those who work in and around retail will be quick to tell you that it isn’t all milk and honey for the industry. Turbulence, closures and realignment are the new norm, as the industry explores new concepts and continues to evolve rapidly…»

For years, the ideal location for a doctor’s office was on or near a major hospital campus. But there is movement away from the hospital campus and into the neighborhoods where patients actually live, according to a new report issued by Chicago-based JLL. In metro Phoenix, the vacancy rate for off-campus medical office buildings is 14 percent…»

Closing for $5.85 million, or $113 per-square-foot, Brittany Square totals approximately 51,554-square-feet and includes two pad buildings. Brittany Square is located at the major signalized intersection of 67th Avenue and Peoria. There was a tenant expansion during escrow, which increased occupancy to 64% at close.…»

Tight supply in major U.S. data center markets, including Silicon Valley, has led occupiers to expand into Phoenix, which has record levels of data center construction underway. Phoenix has 61.4 megawatts (MW) currently under construction, with more than 120 MW announced for future buildout.…»