Month: July 2020

Sales Transactions  1. Pennybacker Capital purchased The Osborn Apartments, a 31-building, 302-unit multifamily complex near 32nd Street and Osborn Road, Phoenix, for $42M.…

By Tasha Anderson for AZBEX  A new multifamily residential development is being proposed for the NWC of Avondale Boulevard and…

Economic News  Hotel Outlook Worsens, Again  Despite some encouraging numbers a few weeks ago, the increasing spikes in COVID-19 numbers have once again…

By Tasha Anderson for AZBEX  Arizona’s seasonally adjusted unemployment rate increased to 10 percent in June 2020, from May 2020, according to the latest report published by the Arizona Office of Economic Opportunity.   The national rate decreased to 11.1 percent…

Source: Colliers International  The Greater Phoenix industrial real estate market remains healthy, despite business conditions during the pandemic. America’s growth in…

Groundbreakings  1. The Douglas Allred Company recently broke ground on two additional office buildings at their Park Place Development on Price Corridor. Both…

By Tasha Anderson for AZBEX  Developer, PEG Companies is looking to preserve the historic Ralph “Haver Triangle Building” in Scottsdale while enhancing it with the development of a new…

Budget, Policy & Stimulus News  Navajo Nation Approves Initial Aid Expenditures  The Navajo Nation’s leaders over the weekend approved the tribe’s first expenditures of…

By Josh Martinez for Independent Newsmedia  The Mesa City Council hosted a public hearing before unanimously approving a series of resolutions and ordinances…

Source: Colliers International   The Greater Phoenix office market remained relatively healthy during second quarter, despite business interruptions caused by Stay-at-Home…