Commercial Real Estate & Business News – June 15, 2023
Google Shows Plans for $1B Mesa Data Center The city of Mesa approved zoning on the data center campus in 2019. It’s taken this long for the company to start coming forward with building design plans. The project — called “Redhawk” — is planned on more than 185 acres near the northwest corner of Sossaman…» […]
Commercial Real Estate & Business News – June 14, 2023
Navigating the Costs of Office-to-Multifamily Conversions As office-to-residential conversions become increasingly common, there are unique challenges to consider, tax codes that impact construction and an emerging policy discussion around the trend. Panelists speaking on the final day of the National Apartment…» Phoenix Firm Secures Financing, Starts Construction on New Pinal County Industrial Project Phoenix-based Kentwood […]
Commercial Real Estate & Business News – June 13, 2023
Arizona Unemployment Rate Drops to Lowest Level since 1976 The unemployment rate in Arizona has dropped to its lowest level since 1976, data shows.Arizona added 12,500 seasonally-adjusted jobs over the month in April, up from a 600 job increase in March. The state’s seasonally-adjusted unemployment rate ticked…» How Debt Costs Will Affect Industrial Demand This […]
Commercial Real Estate & Business News – June 12, 2023
Amazon Opens One of its Biggest US Facilities in East Valley Amazon.com’s newest facility in Mesa is one of the largest of its kind in the country. The Seattle-based company opened a new 1.2 million-square-foot storage and distribution center Friday at 8560 E. Elliot Road, just off the Loop 202 in Mesa. Going by the […]
Commercial Real Estate & Business News – June 9, 2023
Retail Jobs in the US Grew in May In May, the US retail trade sector added 11,600 jobs in May, up from the 10,000 added in April, when adjusted for seasonal changes. However, the US Department of Labour Statistics considers this increase as “little changed over the month” due to the modest…» Year-Over-Year Rent Growth […]
Commercial Real Estate & Business News – June 8, 2023
Economic Conditions look like ‘Soft Landing,’ not Recession, says NRF Economist Although economic indicators are giving conflicting signs, the nation does not appear to be in a recession and should be headed toward a soft landing from inflation and high-interest rates. “Today’s economy is a lot like looking into a kaleidoscope, with the…» CRE Midyear […]