Commercial Real Estate & Business News – February 13, 2023

‘WE’VE ARRIVED’

Glendale wasn’t the top destination for guests when the Super Bowl was hosted at State Farm Stadium in 2015 despite its regional draw with two sporting venues and dozens of restaurants, hotels and entertainment offerings…»

Homebuilder Closes on 65 Homesites and Breaks Ground on 681 New Homes in Goodyear

Landsea Homes, a publicly traded residential homebuilder, announced today it has closed on 65 homesites and construction will begin immediately on a new neighborhood called Solvida in the Estrella master planned community in…»

Phoenix to Score Second-Highest RevPAR in Super Bowl History

STR expects Phoenix’s hotel revenue per available room to reach $419 for February 10-12, which the analytics company claims would be the second-highest level for a Super Bowl weekend. The market, which also is hosting the Phoenix Open this week, is…»

Is the Distress Here Yet?

Back just in 2020—how long is that?—the fear in commercial real estate was palpable. The pandemic was full on. States and cities were closing businesses. Many office buildings became ghost towns. People were without incomes…»

For Multifamily Investors, Sun Appears To Be Setting on Sun Belt Markets

After a decade in the making, the shift in commercial real estate investment away from the major gateway markets to faster-growing areas in the South and West has stalled and even begun to reverse course. U.S. cities in the Sun Belt have…»