Commercial Real Estate & Business News – September 20, 2016

It's that time of year again when commercial real estate firms analyze market activity based on numbers and reports from the first two quarters of the year, and predict how that will impact the rest of 2016 through next year. Experts in their respective markets weighed in on the findings from quarter two reports in this mid-year market update of Greater Phoenix. Overall, the commercial real estate market appears to be steadily progressing in the right direction but not all markets are seeing equal levels of activity...»
It's getting pricier for the convenience of calling your landlord when the AC breaks, the internet is down or the swimming pools needs cleaning. Rents are on the rise in metro Phoenix, particularly in infill hot spots in Phoenix, Scottsdale and Tempe...»
Phoenix's reputation as a tech growth market has come on suddenly in the last five years or so, and it's well-deserved. Industry titan Intel saw the potential here when it opened two plants in the East Valley, and now Google is getting in on the action by making Chandler its next testing ground for self-driving cars. This influx of IT jobs, and startups has made the Valley one the top five growing tech hubs in America...»
After opening to a highly receptive market in April 2016 and surpassing preliminary sales goals, Optima Kierland, a high-rise luxury condominium and boutique rental community in the North Scottsdale Kierland neighborhood, is going vertical with construction of the project's first 12-story condominium tower...»
The new facility will serve west coast foodservice packaging and retail tableware markets, producing paper cups, pressed paperboard plates and thermoformed plastic cups and lids, and bringing approximately 300 new jobs to the region. Construction of infrastructure at the 102-acre site is expected to begin in the second quarter of 2017, with commercial production scheduled to begin in late 2017...»

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