Commercial Real Estate & Business News – May 3, 2023

The overall multifamily vacancy rate increased by 30 basis points quarter-over-quarter in the first quarter to reach 4.9%, according to CBRE. This was less than the 70-bps increase in Q4 2022 and the 90-bps jump in Q2 2022. At the same time, CBRE expects that absorption in the…»

Greater Phoenix is in hot demand by industrial tenants, which has resulted in record low vacancy levels, rising rates in rents and a flurry of new construction. According to the first quarter 2023 report released by Colliers in Arizona, rental rates have increased 31.4 percent in the past…»

Early signs show that the new real estate strategy being deployed by Sprouts Farmers Market Inc. (Nasdaq: SFM) is paying off. The company announced its first quarter earnings Monday with positive results, some of which are due to its new stores and new store format,…»

Executives for commercial real estate brokerage Colliers said they now expect declines in sales and financing to last through the end of the year amid concerns about limited debt availability and property valuations. The Toronto-based firm’s revenue fell 3% to $966 million in the first quarter of the…»

The overall CRE market performance continued to head down in March 2023 according to the latest CoStar Commercial Repeat Sale Indices (CCRSI). But the overall move masks the individual differences that might be important to investors, owners, and developers at the moment. CoStar tracks properties through…»