Commercial Real Estate & Business News – December 11, 2023

Multifamily and neighborhood retail continue to perform well, and industrial is showing signs of softening. But the future of office is uncertain as central business districts evolve. However, the commercial real estate outlook for 2024 remains largely unchanged from six months ago. “Overall, the outlook…»

Brace yourselves for a transformative wave of prosperity as the Town of Queen Creek and other cities in Pinal County and the Southeast Valley emerge as the epicenter of economic growth. Historic milestones will reshape the future of multiple communities, including Queen Creek, where…»

The revamped plans for Pivotal Group Inc.’s The Central Park took a big step forward Dec. 8. Phoenix’s Planning Commission recommended approval of the project with updated stipulations on a 5-0 vote, but only after a lengthy public comment discussion between commission members, the project’s…»

Preleasing for the 2024-25 school year is already off to a fast start, according to Yardi Matrix’s National Student Housing Report. Preleasing reached 25.2% for the Yardi 200 in October, which is ahead of the record-setting 10.4% pace seen one year ago. The strong preleasing is indicative of early…»

It’s no secret that home loan interest rates are at generational highs and reducing the purchasing power of first-time and repeat homebuyers as a result. While mortgage rates will hopefully decrease from recent highs over the next year, they’re unlikely to return to the all-time lows available just…»