Commercial Real Estate & Business News – April 11, 2025

After a period of stagnation, the commercial real estate market is showing signs of life, with February sales surging 30% year-over-year and distress rates for CMBS loans declining for the second consecutive month. This thawing was highlighted in a recent report by Moody’s and stems from a confluence of factors: an improving economic environment, lower interest rates, renewed investor confidence…»

Several leading apartment companies plan to buy, sell, or start to build more apartments in 2025 than they have in years—with many planning to do all three. Many believe the time is finally right to commit to plans they have delayed for years. As 2025 begins, new renters had signed leases at hundreds of thousands of new apartments. A strong U.S. economy has avoided recession…»

Arizona real GDP rose by 3.3% at a seasonally-adjusted annual rate over the quarter in the last quarter of 2024. That was well above the U.S. at 2.4% and ranked Arizona 11th in the nation (excluding the District of Columbia). State gains were powered by real estate and rental and leasing; health care and social assistance; professional, scientific, and technical services; finance and insurance; and state…»

Aardex LLC is wasting little time in its effort to restore a more than 100-year-old downtown Phoenix building and redevelop the block it sits on. The Denver-based real estate development firm will begin renovations later this month on the historic Gilbert-Pratt building after Phoenix City Council approved its development agreement on April 9, Aardex Principal Caleb Hebel told the Business Journal…»

Along Main Street in downtown Mesa, a half-constructed multi-family project dubbed The GRID that has sat untouched for nearly a year. But that is all expected to change soon. The City Council approved a non-binding agreement on April 7 with SolTrust Residential REIT to take over the project from its previous developer, which filed for bankruptcy in the U.S. District Court of Arizona in 2024…»