Commercial Real Estate & Business News – January 31, 2025

A Target store and housing will anchor a swath of vacant desert land in east Mesa after the city council approved a rezoning request Monday. The city made way for the project dubbed Medina Station after the council annexed about 64 acres and approved a development agreement that outlined any restricted land…»

AVE, the residential real estate brand of Korman Communities, in partnership with RXR, today announces the opening of AVE Paradise Valley (12400 North Tatum Boulevard), a new residential community with 400 apartments in the reimagined Paradise Valley Mall site. The state-of-the-art, mid-rise property becomes…»

The 10-year Treasury continues to be a lynchpin of longer-term lending, including CRE mortgages. But its near-term future is uncertain. What will happen depends on macroeconomic factors, investor sentiment, and White House actions, and there are two schools of thought. The most fundamental issue is the term…»

The average asking rent for a Phoenix apartment rose 0.1% in December, the first month of positive movement since February 2024. December’s result brings annual rent growth for the year to negative 1.9%, on pace with the decline seen in 2023 pandemic. Though renter demand rebounded…»

As urban areas become more crowded and homeownership slips further out of reach, the build-to-rent (BTR) market is stepping in to fill the gap. Nationwide, more than 110,000 single-family rentals are under construction, set to increase the BTR inventory by…»