Every businessperson understands that innovation is essential. In commercial real estate, however, this principle is especially true. Since early 2020 when the coronavirus pandemic rocked the commercial real estate world, professionals in the industry came up with innovative ideas for
Rental prices in the Phoenix metro, like home prices, are skyrocketing- making it challenging for people to find housing across the board. Parallel with the housing market — there are fewer rentals available and too many people who want them. As I like to say, “The only market in Phoenix
A Phoenix-based developer has completed an industrial project that is one of the few to target small and midsize tenants in greater Phoenix. The 271,000-square-foot Kentwood 303 development by Kentwood Partners, at the northeast corner of Bethany Home Road and Cotton Lane in Glendale,
A new report from online real estate giant Zillow deemed Tempe to be the most popular college town for 2021. Tempe — home of Arizona State University’s main campus — appeared on Zillow’s listing of the country’s most popular places for the year, which analyzed ZIP codes in the
Dermody Properties acquired almost 1,000 acres in Phoenix’s West Valley to build what the Nevada-based developer says will be “one of the largest industrial parks in Arizona history. ”The developer plans to build 10 million square feet of warehouse space on speculation, without signed tenants,
The West Valley is one of the fastest-growing areas in Arizona, seeing 24% growth in residents compared to Maricopa County’s also significant 16%. In addition to more restaurants, shopping and West Valley real estate and housing options, many businesses are now looking at the West Valley
The country’s top-tier cities have lost some of their pre-pandemic luster as many grapple with higher office vacancy rates and softer leasing in the global health crisis. San Francisco, New York, Boston and Los Angeles are among the cities facing steep challenges in regaining leasing momentum
The Phoenix metro topped the nation for growth in life sciences employment between 2019 and 2020, according to a new CBRE Group Inc. study, and that employment growth has fueled a need for specialized real estate space that can accommodate lab and research uses.Metro Phoenix’s life
Amazon, already Arizona’s third-largest private-sector employer, announced plans Tuesday to create another 550 jobs over the next few years at its expanding metro Phoenix technology center in Tempe. More than 400 of the jobs are currently available at the center. Applicants can apply at
The single-family rental market undeniably has the potential to be a major asset class in commercial real estate. While in its infancy, investors have already shown fervency for the sector with an estimated $50 billion allocated for the SFR market. However, the pool of quality opportunities is
It’s no secret metro Phoenix is ground zero for the unique build-to-rent market that is taking the country by storm as more developers are entering the Phoenix market to get a piece of the action. This unique hybrid model made popular by Phoenix-based NexMetro Communities and Mesa-based
The pairing of outsize aggregate demand, especially for physical goods as opposed to services, with COVID-related shortages and constraints in the global supply chain has driven rapid price inflation for U.S. consumers. While that has caused a good deal of consternation, it is helpful to
A piece of the East Valley’s most famous farm is being set aside for homes. The Empire Group of Companies of Scottsdale announced last week that it is developing 13 acres of Schnepf Farm in Queen Creek for a gated community of 144 rental homes that will be ready for leasing by late
Experts are doing more than wishing the commercial real estate industry a prosperous New Year—they are promising it. In a recent 2022 outlook webinar from Green Street, Michael Knott estimated that commercial real estate values and yields would increase next year. Values are expected to
When 2021 began, U.S. rent prices were in a slump. Many young renters had moved back in with parents and others were uprooting to more affordable homes to work remotely. In some of the most expensive rental markets and neighborhoods, these shifts led to softening rents and even
Next year, U.S. shoppers anticipate spending 14% more on average per month for their groceries, according to the KPMG Consumer Pulse Survey 2022 Grocery Forecast. Based on a poll of more than 1,000 consumers, the
Nationwide, 30.3% of Redfin.com users looked to move to a different metro area in October and November, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. That’s down from a
Vertical farming has been developing around the world and is seen as an alternative and sustainable way to farm while using less space and water, and now that technology is well on its way to the Phoenix market. By early next year, an
Holiday shoppers ventured into stores this season, driving sales higher than last year and 2019, even as the latest coronavirus variant surged. Mastercard Spending Pulse findings showed that total sales increased
PHOENIX – Ownership of about 4½ acres in Old Town Scottsdale recently changed hands, opening a new chapter for the property known as Southbridge II. A group led by the founding partners of developer Creation RE purchased
One of Phoenix’s most iconic properties is about to become the largest mall redevelopment project in Arizona history, transforming into a vibrant new addition to the city’s core. Concord Wilshire Capital (“CWC”) and TLG Investment Partners (“TLGIP”) (collectively, the “Developer”)
Starwood Property Trust sold a four-story office complex in Scottsdale, Arizona, for just under $38 million as out-of-state investors scoop up greater Phoenix properties in the final weeks of 2021. Yonezawa Miller Co. bought the 110,000-square-foot Kierland Corporate Center I at
The housing market may not reach the incredible heights of 2021, but Zillow economists predict it will be anything but slow next year. Expect the strong sellers market to persist, the Sun Belt to maintain its top spot as the most in-demand region, and flexible work options to
The coming year is likely to see significant further improvement in overall economic conditions, with rising GDP, job growth, and higher incomes, in a supportive financial market environment where inflation pressures gradually subside and long-term interest rates remain well
Walmart and Kroger were named the nation’s most-trusted grocery stores in a special report by brand consultancy BrandSpark International and Newsweek. New York-based BrandSpark polled 3,200 U.S. adults on which grocery store banners they trust the most as part of a special