Commercial Real Estate & Business News – August 22, 2024

The University of Michigan’s index of consumer sentiment brightened in early August, rising from an eight-month low of 66.4 to 67.8. But the news might not be as positive as the headline would suggest. Consumers expect the Federal Reserve to lower interest rates soon and see a better environment…»

Acquisition financing in the industrial and multifamily sectors, reduced credit spreads, and the growing demand for large-scale data center construction loans drove improvement in the commercial real estate lending market in the second quarter of 2024…»

Several major retailers have picked the burgeoning Prasada shopping complex in the West Valley to open new stores in metro Phoenix, according to Scottsdale-based developer SimonCRE. Seattle-based fashion retailer Nordstrom Inc. (NYSE: JWN) is planning to open a 26,000-square-foot…»

A global semiconductor company plans to set up a major cleaning, coating and repair facility in Mesa. KoMiCo, headquartered in South Korea, is expected to open its third location in the United States in the East Valley in 2026 and create some 200 new jobs. The company is expanding…»

There’s been a lot of multifamily distress that has become obvious. Heated development in many metros, typically in the Sun Belt, has resulted in more inventory than expected, increased vacancy rates, and declining rents. Then increased costs of operations have driven down…»