Commercial Real Estate & Business News – April 30, 2024

The Phoenix industrial market got off to a strong start for 2024, with net absorption surging to 4.5M SF in the first quarter, nearly double the amount in the previous quarter. Leasing activity in the Phoenix metro totaled 9.3M SF, much of it driven by Amazon, which inked three...»

The Trepp CMBS Delinquency rate dipped slightly in March, led by a significant improvement in the retail CMBS delinquency rate and, interestingly, a 5 basis point uptick in the office delinquency rate. The overall delinquency rate declined 4 basis points to 4.67%, with the retail…»

After a slow start to the year, millions of dollars in Phoenix-area office building sales are nearing the finish line. The first quarter saw only $5.4 billion of office sales nationwide, down 17% from Q1 2023, according to an analysis by CommercialEdge. The report found Phoenix…»

Mark-Taylor Residential (MTR) proudly announces management of three communities that combine the best of luxury, convenience and its signature feeling of home. Through a dedicated partnership with Isola Communities, Sobremesa Villas is a highly desirable luxury build-to-rent…»

Industrial construction has significantly slowed this year as more buildings are delivered without tenants secured, causing the vacancy rate to creep up in metro Phoenix. About 30 million square feet of industrial space was under construction in the first quarter — a 44% decrease…»