Commercial Real Estate & Business News – March 5, 2024

All of the big computers and related equipment that businesses rely on to manage their operations have to go somewhere, and they are increasingly being installed around metro Phoenix. Metro Phoenix now ranks first in the western United States and second nationally for data…»

It’s not quite “Don’t Worry, Be Happy,” but a new note from CBRE emphasizes that multifamily problems will eventually end. “Markets are never static and strong rent increases are likely to resume in traditionally higher growth cities as excess supply is absorbed,” they wrote…»

Guests are already checking into the Caesars Republic Scottsdale. The new 11-story, 265-room hotel on the north side of Scottsdale Fashion Square mall held its grand opening party on Feb. 29, before it officially opens to the public on March 6. Macerich Co., the owner of the…»

Arizona Attorney General Kris Mayes filed a lawsuit Wednesday against software company RealPage and nine residential landlords, alleging they engaged in a massive conspiracy to price gouge at least 100,000 renters in Phoenix and Tucson. RealPage sets prices for apartment units…»

Here’s what to expect in the economy in 2024 at the state level and at the national level. First, good news is coming out regularly regarding the national economy. When the Fed first increased rates in March of 2022, most analysts expected the economy would spiral into recession…»