Commercial Real Estate & Business News – November 3, 2023

Instead of slowing during the second half of the year as many economists had predicted, economic growth is accelerating. The Bureau of Economic Analysis reported last week that real gross domestic product grew by 4.9% annualized during the third quarter, easily beating expectations. For the Federal…»

ULI and PwC’s flagship report takes an in-depth look at what’s ahead. Here are the main takeaways. The commercial real estate industry is facing a post-pandemic era of higher interest rates, slower economic growth and the realization that hybrid work schedules are here to stay with wide-ranging…»

The central bank left rates alone in November. What comes next? The Federal Reserve left interest rates unchanged this month, a decision that had been widely anticipated. The Federal Funds Rate has been unchanged since July at a range of 5.25 percent to 5.5 percent. For the last two consecutive…»

Metro Phoenix’s ever-evolving lineup of restaurants continued to grow in October with the opening of a variety of new cafes, bakeries, bars and sit-down restaurants serving Italian, Mexican and Mediterranean cuisines. The dining scene is heating up in Gilbert, which gained four new restaurants…»

There are more hotel rooms under construction in Phoenix than just about anywhere else in the country. The Valley could increase its total hotel room count by roughly 20% in the next few years, according to data from real estate and hospitality industry tracker CoStar. Currently there are 26 hotels…»