Commercial Real Estate & Business News – January 10, 2024

Phoenix is the top market for manufacturing growth thanks to at least 14 major announcements that have been made in the region since 2020. Metro Phoenix was ranked No. 1 out of the 15 top growth markets for largest projected job gains by global real estate firm Newmark Group…»

Outperforming retail markets clustered in the Sun Belt region of the U.S., which has benefited from years of in-migration and relatively strong income growth, may continue to be the main driver of retail rent in the year ahead. Per the U.S. Census Bureau, the top eight states seeing the…»

The median U.S. asking rent fell 0.8% year-over-year in December to $1,964, according to Redfin, marking the third consecutive decline, following a 2.1% annual drop in November, the largest since 2020. There was only a slight dip of 0.3% recorded in…»

One of the top projects to watch in the East Valley could start taking shape this summer. The Ranch, a multi-phased project that’s set to transform more than 300 acres on the southwest corner of Elliot and Power roads in Gilbert, is set to break ground sometime in…»

The rapid decline in U.S. office property values may not be over, according to Manulife US REIT. The Singapore-based real estate investment trust has seen the value of its portfolio of 10 U.S. office buildings decline by 8% since June, the REIT reported in a filing with the…»