Legislation & Regulations

PPP Delays and Tweaks

Budget, Policy & Stimulus News PPP Delays Frustrating Ariz. Businesses As of Feb. 21, 1.9 million Paycheck Protection Program loans, totaling $140B across the country, have been approved by the Small Business Administration. Arizona businesses

People on the Move

Industry Professionals 02-23-21

Giving Back  1. The Sundt Foundation awarded grants to seven Southern Arizona nonprofits during its current giving round. The Foundation awards grants each quarter to local charities that support disadvantaged children and families. Nonprofits are selected through

Commercial Real Estate

Commercial Real Estate News 02-23-21

Sales Transactions  1. Apartment Ventures NNC has purchased Village at Aspen Place, a 222-unit, Class A apartment community located within Aspen Place at the Sawmill in Flagstaff, for $64.5M, from an undisclosed seller.   2. Barker Pacific Group purchased a Class A self-storage portfolio

Trends

Phoenix 6th Hottest Multifamily Market

By CommercialSearch/Yardi Matrix  Over the past decade, the price-per-unit for multifamily properties surged 156 percent, reaching nearly $160K. This increase surpassed both median home sale prices and rental rates.  The latest CommercialSearch study compared and ranked the most active U.S. metros

Trends

Construction Input Prices Up in January

By Associated Builders and Contractors  Construction input prices increased 2.5 percent in January 2021 compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices rose 2.1 percent for

Local News

Arizona Projects 02-19-21

Groundbreakings  1. Creation RE/PE announced the land closing and construction start of 10 West Commerce Park, an 863KSF industrial development to be located on a 76-acre site in Buckeye. Careful consideration has been given to circulation, maneuverability and building design

Planning & Development

Viavi to Build New HQ in Chandler

By Arizona Commerce Authority  Viavi Solutions Inc. announced its Optical Security and Performance Products segment plans to establish a new manufacturing facility in Chandler to support growing demand for its technologies. VIAVI also plans to transition its headquarters to the