Commercial Real Estate & Business News – December 20, 2024

The shocking strength of the economy helps explain the Federal Reserve’s Scrooge-like plans for interest-rate cuts next year. And the latest update on GDP over the summer offers another reminder. The U.S. economy expanded at a frothy 3.1% annual pace in the third quarter, and it looks like a…»

While the commercial real estate market is set for a lending rebound in 2025, not all sectors are primed for a quick recovery. James Millon, CBRE’s President of U.S. Debt and Structured Finance, predicts that liquidity will flow back into stronger asset classes like multifamily, self-storage…»

Phoenix continues to lead the nation in terms of industrial development, despite a slowdown in construction starts. At the end of October, the metro had 24.7 million square feet of industrial space under construction across 95 projects. Nevertheless, construction starts for industrial projects…»

Today, Arizona-based architectural firm Krause was selected as the winner of the C40 Cities Reinventing Cities Initiative to develop Phoenix’s Resource Innovation Campus (RIC). The initiative is a competition that invites professional multi-disciplinary teams to transform underutilized sites in cities…»

The Phoenix apartment market extended its rent-losing streak last month as supply-side pressure and persistently elevated vacancy hamper rental rates. The average asking rent fell 0.4% in November, marking the ninth-consecutive month of declines. As a result, apartment rents are now down 2.1% through…»