Commercial Real Estate & Business News – November 10, 2023

Despite a noticeable drop in demand after a historic, record run recently, there are some real bright spots for the US industrial market, according to a new company news video from Marcus & Millichap. “We still see room for inventory growth in the mid to long-term just ahead, a big slowdown…»

After hitting a 40-year record high for completions of U.S. multifamily units this year at a projected 558,000, the apartment sector is expected to add approximately 440,000 units next year, a 21% pullback. Even so, the projected total for next year would be still elevated, and well above the…»

A planned $900 million media production campus with more than 50 soundstages near Phoenix received initial approval from regional planners as Arizona vies with other states to meet growing industry needs for movie and TV soundstages. The Maricopa County Planning and Zoning Commission…»

After a year of headwinds, some normalcy is returning to the technology sector as office leasing decisions are starting to be made in the Valley and beyond. CBRE Group Inc. recently published its “Tech 30” report, which measures 30 leading U.S. markets that have experienced the most tech…»

The vacant former Sears building at Desert Sky Mall has a new owner and a new future — as a Mexican music venue. The owners of El Capri, a popular Latin nightclub in Phoenix that has been in business for decades, bought the Sears building for $7.13 million, and plan to transform it…»