Commercial Real Estate & Business News – January 27, 2025

Easing rents in the Sunbelt could boost migration to the region, leading to positive net absorption and reduce vacancy in the multifamily markets there, according to Marcus & Millichap’s 2025 national investment forecast. The report found two-thirds of the 21 major metros in the region had an average…»

Single-family rentals are the housing market’s big standout right now, with costs 20% higher than that of a typical multifamily apartment, according to the latest market report from Zillow®. That’s the largest difference ever recorded by Zillow. And in Phoenix, single-family rentals are…»

The Phoenix area is going to see a lot less industrial construction in 2025 as developers wait for tenants to fill up the vacant boxes around the Valley. That shouldn’t be an issue. A fourth quarter surge brought 2024 to a record 35.9 million square feet of overall gross absorption of space in the Phoenix metro…»

The estimate comes amid high demand for construction workers and a federal crackdown on undocumented immigrants, potentially creating a shortage of workers and pushing construction costs even higher. Housing shortages and ongoing multifamily projects across the country are just…»

Superstition Springs Center in northeast Mesa just lost another anchor store with Macy’s pulling out this year. Sears left in 2018. The storied chain announced in early January it will close 66 “under-productive” locations and focus on its more lucrative stores. Most of the retail stores are expected to close in the…»