Commercial Real Estate & Business News – June 16, 2023

After its sharpest flurry of interest rate hikes in four decades, the Federal Reserve held its key rate steady Wednesday but signaled two more increases are likely this year as officials continue to battle high inflation. That’s more projected hikes than financial markets…»

Over the past few years, industrial markets have grown dramatically. Several markets like Phoenix have emerged as growth markets for manufacturing leasing activity, and they are becoming strategically important for operations, as well as attractive opportunities…»

Occupancy in smaller office buildings in the Phoenix area is at its tightest level in more than two decades, continuing the rare trend of occupancy rates in smaller office buildings running counter to larger ones as corporate downsizing since the onset of the pandemic…»

A California-based developer is looking to build 1,500 apartment units and more than 20,000 square feet of retail on a 15-acre site in midtown Phoenix. Earlier this month, Petree Properties met with the Encanto Village Planning Committee to propose a multi-phase mixed-use…»

Banyan on Washington offers a selection of one-, two-, and three-bedroom floorplans at 5353 E. Washington St. The Mark-Taylor Residential project sits along the light rail line and is just blocks from the Loop 202 Red Mountain Freeway, providing easy access to…»