Commercial Real Estate & Business News – July 25, 2023
Pivotal Group submits proposal for reimagined “The Central Park” mixed-use project Three years after starting the marketing process for a massive mixed-use project in midtown Phoenix and a lengthy reevaluation during the Covid-19 pandemic, Pivotal Group is set to bring “The Central Park” back in front of city officials. Pivotal Group Inc., a high-profile Phoenix […]
Commercial Real Estate & Business News – July 24, 2023
A Stubborn Bid-Ask Gap is Keeping CRE Transactions Down The term “mind the gap” had its start in England as a reminder that subway patrons should step over the space between the train door and platform. Today in commercial real estate, the gap is a bid-ask transaction one, where buyers and sellers are separated by […]
Commercial Real Estate & Business News – July 21, 2023
‘No Sign of a Recession’: 3 Signs Suggest the US Economy is so Strong it May Not Even Cool to a Soft Landing The US economy has continued to show remarkable strength over the past year despite a barrage of warnings from CEOs and economists that a recession is on the horizon. Even the most […]
Commercial Real Estate & Business News – July 20, 2023
Builder Confidence Rises Despite Rising Rates, Material Costs, Labor and Lot Inventory Low inventory may not be good for potential homeowners shopping for a home but it’s keeping builders feeling a bit more confident that there are buyers eager for new single-family homes. This was the conclusion from the National Association of Home Builders (NAHB)/Wells […]
Commercial Real Estate & Business News – July 19, 2023
Next 12 Months Pivotal for Commercial Real Estate Debt Maturities Over the next 12 months, the U.S. commercial real estate sector will grapple with the reality that three-quarters of a trillion dollars in loans are scheduled to come due this year and next. Within the context of $4.5 trillion in U.S. commercial real estate debt, […]
Commercial Real Estate & Business News – July 18, 2023
Phoenix Metro Office Rents Tick Up Amid Negative Absorption in the Market One step forward, one step back, according to the Q2 2023 Phoenix metro office reports from commercial brokerage firms Avison Young, CBRE Group Inc. and Cushman & Wakefield. While net absorption rates for the Valley market seemed to be inching closer to a […]