Commercial Real Estate & Business News – August 16, 2024

Rental rates on some apartment types slipped in July compared to the same time a year prior, the first time that’s occurred since June 2020 — the height of the Covid-19 pandemic. Median asking rents for studios and one-bedroom apartments fell 0.1%, two-bedroom apartments fell 0.3% and…»

The latest Realtor.com Rental Report reveals a significant shift in the US housing market, as renting a starter home has become more financially advantageous than buying in all of the 50 largest metropolitan areas. This trend, observed since February, is driven by…»

Phoenix ranks sixth nationally among the markets with the largest share of the top 100 industrial leases in the first half of 2024, according to a new report from CBRE. Phoenix had five of the top 100 largest industrial leases, totaling 4.6 million square feet. Three of the five leases were signed by…»

Green Bay Packaging Inc. has joined the legion of Wisconsin snowbirds interested in Arizona. The company purchased 80 acres in Casa Grande, a city of more than 55,000 people along Interstate 10, with the intent of building a new box factory in the future. The property is south of West Korsten Road…»

The view from the top of a recently built air traffic control tower at Phoenix-Mesa Gateway Airport gives a bird’s-eye view of the aircraft fleet, hangar space and mixed-use buildings under construction. And in many ways, it shows a blank canvas on which big aspirations will…»