Commercial Real Estate & Business News – December 21, 2023

A soft landing has been “baked in” for next year (but it is not guaranteed) and the pace of growth for commercial real estate will be slower in 2024 than it was in 2023, according to a new industry forecast video by Marcus & Millichap reviewing its macro perspective based on US…»

Investment volume in these areas approached $11 billion, accounting for more than one-third of the sector’s sales, according to CommercialEdge data. In contrast to other segments within commercial real estate, the industrial sector’s fundamentals remain solid, even though…»

Diversified Partners, the leading Scottsdale real estate brokerage and development company, announced the groundbreaking for its Shops at 75th development project, located at 7501 W Bethany Home Rd. in Glendale, Ariz. The groundbreaking ceremony, held on Dec. 11, was attended…»

The city of Phoenix was a major beneficiary of economic development announcements and growth in 2023 that is also spilling over into surrounding communities. Phoenix saw major announcements in all sectors this year, including in the struggling office sector, the booming retail…»

Manulife US REIT, a Singapore-based real estate investment trust, sold its best-performing office property to another of its sponsor’s affiliates as part of a $236 million debt reduction and recapitalization plan. Manulife US REIT completed the divestiture of its two-building, 274,700-square…»