Commercial Real Estate & Business News – February 19, 2025

CMBS lending is on pace to hit a post-Great Recession record for new issuance. CMBS issuance grew every quarter in 2024 and ended the year at roughly $115B in raised capital, 150% ahead of 2023, according to Kroll Bond Rating Agency. Activity picked up significantly in the back half…»

The Phoenix commercial real estate investment market staged a comeback in 2024. About $11.8 billion worth of multifamily, retail, office and industrial properties traded hands last year, a 32% increase compared to 2023. The year’s result brought sales volume within just 2% of the annual…»

Creation Equity put forward its latest industrial project plans for an underdeveloped lot in Scottsdale. The Phoenix real estate development company hopes to receive approval from the Scottsdale Planning Commission at its Feb. 20 meeting, pushing those plans closer to fruition…»

Developer Overton Moore Properties (OMP), along with its partner, Invesco Real Estate (Invesco), have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 sq. ft. on 35.5 acres at the former site of the Big Surf Waterpark in…»

Close to 18 months ago, McKinsey projected long-term impacts the pandemic might have on commercial real estate. The firm just revisited the predictions to see how they held up. Unfortunately, McKinsey’s latest projections painting a sobering picture for the future of office spaces. The firm estimates…»