Commercial Real Estate & Business News – August 12, 2024

Jennifer Stein, director of the economic development services department for the City of Peoria, shared an interesting experience at Thursday’s 10th Annual AZRE Forum that sums up the state of the Metro Phoenix commercial real estate industry. “When you trip over Secret Service…»

One of the Valley’s most active multifamily real estate investors is facing foreclosure on two metro properties. Los Angeles-based Tides Equities LLC has invested more than $3.3 billion in multifamily properties since entering the Phoenix market in 2016, but it is now in danger of losing a pair of properties…»

Renters who have lease contracts expiring or college students returning to town may be looking for a new apartment to rent.  For those seeking a spacious place under a budget, a new study from RentCafe suggests Tucson, Surprise and Peoria might be their…»

One of North America’s largest automotive suppliers, Magna Steyr, is extending its manufacturing capacity with a 230,000-square-foot facility in Mesa, Ariz., within Power Industrial Park. Magna leased the building earlier this year, Phoenix Business Journal reported, and will build out…»

More than half a million apartments are expected to be completed this year, an increase of 9% over 2023 and 30% from 2022. New inventory is enough to house the entire population of Atlanta, with 60% of new apartments coming to market in just 20 metros, according to a study by…»