Commercial Real Estate & Business News – March 4, 2024

Residents across Phoenix have flooded local stores, driving retail properties to their lowest vacancy rate in four decades. Overall vacancy in the Phoenix retail market has fallen to 4.8 percent, the lowest since the early 1980s, AZ Big Media reported, citing an analysis by Velocity Retail…»

Multiple measures show increased delinquency rates in commercial real estate collateralized loan obligations, better known as CRE CLOs. While office property leads with the highest proportion of distressed loans, multifamily real estate shows the greatest distress by dollar amount…»

Steelcase Inc. will shut down its large distribution center in Southern California and relocate its regional operations to a smaller building in metro Phoenix. The Grand Rapids, Michigan-based manufacturer of furniture for offices, hospitals and schools has signed a lease for a 211,360…»

Grocery retail investment volume experienced a significant decline in 2023 that was felt among all core real estate property sectors. A new report from JLL suggests a reversal of fortunes in 2024. Grocery retail properties benefit from anchor tenant stability, favorable lease terms, and a…»

The Phoenix Metro region started 2024 with the most industrial space under construction, two reports show. And while one study, by Transwestern Real Estate Services, warns that “it might take a while for the market to catch up and that will translate to some volatility for industrial…»