Commercial Real Estate & Business News – August 26, 2024

NASHVILLE, Tennessee — Artificial intelligence has been a major buzzword in the hotel industry over the past couple of years, but there are still a lot of unknowns in regard to what it is, how soon it’ll have an impact and how it can be applied across organizations. During the “AI in…»

Large move outs in the Greater Phoenix office market overshadowed strong leasing activity during second quarter 2024, according to a report from Colliers. These move outs and expiring sublease space that turned over to direct vacancy created negative net absorption in the…»

Apartment investors and developers are laboring through a softening market, as the number of multifamily loans that face potential distress continues to grow. In metro Phoenix, 34 loans for multifamily properties are currently on a CMBS watch list, according…»

Vacant sites around Glendale’s sports and entertainment district and the Loop 101 are being eyed by developers. A mixed-use project with 239 multifamily units and 13,000 square feet of commercial space has been proposed for 20 acres south of the St. Joseph’s Westgate Medical Center. John Simon,…»

The commercial real estate market is beginning to turn and the investment climate is thawing, John Chang, the national director of research and advisory services at Marcus & Millichap said in a video on the company’s website. A metaphorical gun has gone off, “at the start of a track event,” he…»