Commercial Real Estate & Business News – March 9, 2023
Multifamily Keeps Benefiting From Hurting Housing Supply In the 2022 US housing report from the National Association of Realtors and Move.com, which operates Realtor.com for the NAR, the big news is more of the same. The market is now, by their count, 6.5 million new single-family homes short of…» Valley Investment Group Buys North Scottsdale […]
Commercial Real Estate & Business News – March 8, 2023
It’s Raining Multifamily “It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next…» Construction Paused on $2B Paradise Valley Master-Planned Community, Residents Frustrated Homeowners of […]
Commercial Real Estate & Business News – March 7, 2023
Phoenix Ranks No. 2 for Most Industrial Real Estate Under Construction With a total of over 52 million square feet of industrial space under development, Phoenix ranks 2nd among the largest U.S. markets by industrial real estate currently under construction, according to CommercialSearch’s latest study…» 22-Story Apartment Tower in Downtown Phoenix will Begin Housing Students […]
Commercial Real Estate & Business News – March 6, 2023
THE BIG PUSH Labor is a top reason why companies are choosing to move to or expand in the Phoenix metro, particularly in fast-growing areas like the West Valley. For the past two decades, West Valley cities such as Goodyear and Surprise have seen…» Macerich Refinances Arizona Mall, CBL Works Through $231 Million in Debt, […]
Commercial Real Estate & Business News – March 3, 2023
Mayo Clinic Set to Start Work on 120-Acre Phoenix Biotech Innovation Hub A dream more than 10 years in the making for a Valley biotech innovation hub is finally coming to fruition. Mayo Clinic has submitted its zoning application with the city of Phoenix to develop Discovery Oasis, a 120-acre medical and…» JLL’s LaSalle Buys […]
Commercial Real Estate & Business News – March 1, 2023
Amount of Maturing Hotel CMBS Loans Balloons This Year After Getting Extensions Hotel loans that have been packaged as commercial mortgage-backed securities, or CMBS, typically give borrowers the option to extend the loan beyond the stipulated due date by an additional year or two. Facing the suddenly elevated interest rate…» Experts Keep Guessing at When […]