By Corina Vanek | Phoenix Business Journal
The 10 most-expensive commercial real estate developments to begin construction in the Valley in October were all either apartments or industrial developments, further outlining some of the changes to the market in the wake of the coronavirus pandemic.
The value of nonresidential construction starts in October 2020 was $249 million, a 43% decrease from the same period in 2019, according to research by Dodge Data & Analytics. Residential construction, which includes apartments and single-family homes, fared far better. About $1.3 billion in residential projects began construction in October 2020, a 25% increase from October 2019.
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