Commercial Real Estate & Business News – November 13, 2024

Demand for retail spaces in Greater Phoenix remains high, thanks in part to the region’s consistently growing population. According to Avison Young’s Second Quarter 2024 Retail Market Report, “Phoenix’s retail vacancy rates are remarkably low, both historically and on a national…»

TA Realty, a global private-equity firm based in California, has acquired the newly constructed Chandler Airpark 202 industrial development in Chandler, Arizona, for $75.6 million. The property features four buildings totaling 402,487 square feet. US Capital Development and Ares Management…»

As the U.S. office sector continues to navigate the complex post-2020 landscape, it evolves under the influence of shifting economic winds, changing work trends, and the need to refresh a significant portion of the national office stock. That said, how have the large office markets fared in…»

The housing market did not perform well in 2024 but the prospects for 2025 may be better, depending on employment and mortgage rate levels, according to Lawrence Yun, chief economist of the National Association of Realtors (NAR). “2024 has been a very difficult year on many fronts,” Yun said…»

With demand for multifamily properties outpacing new deliveries, the overall multifamily vacancy rate fell to 5.3% during the third quarter on its way to an expected return to its long-run average of 5%, according to a CBRE report. Vacancy rates in most markets remained above…»