Commercial Real Estate & Business News – January 20, 2022
ICSC: Consumer Holiday Spending on Goods, Services in Big YOY Increases Holiday 2021 was one for the record books despite slower December sales.Sales grew 17% year-over-year in November and December, according to ICSC’s 2021 Post-Holiday Survey. (The ICSC includes restaurant sales in its total.) Consumers spent an average of $1,011 during the holiday season. Fifty-percent […]
Commercial Real Estate & Business News – January 19, 2022
Housing Affordability, Fate of Office Work are Key Valley Issues, Experts Say Housing affordability, the fate of office work and the demand for industrial space in Phoenix were among the themes covered during the IREM CCIM Economic Forecast held Friday morning. Robert Hicks, executive vice president for Portico Property Group, said the Valley is expected […]
Commercial Real Estate & Business News – January 14, 2022
Why Lumber Prices Have Nearly Tripled Again Since Cratering a Few Months Ago Simple economics popped the lumber bubble last year. Once the price of lumber topped $1,515 per thousand board feet in the spring, do-it-yourselfers en masse stopped buying. At the same time, sawmills trying to cash in on the sky-high prices increased production, […]
Commercial Real Estate & Business News – January 13, 2022
As Phoenix’s Population Rises, Developers Race To Keep Up Three years ago, West Fillmore Street in downtown Phoenix was a desolate patchwork of empty lots, crumbling one-story buildings and dilapidated houses. Today, the area just a few blocks from City Hall pulses with the sound of skip loaders, forklifts and cement mixers. Lennar, Toll Brothers, […]
Commercial Real Estate & Business News – January 12, 2022
Here Are the Multifamily Markets Poised to Outperform in 2022 Secondary and tertiary markets across the American West and Florida are projected to be multifamily out performers in 2022, led by Phoenix, Las Vegas, Tampa, Tucson, and Albuquerque, according to new research from Freddie Mac. Those cities are projected to post annualized growth in gross […]
Commercial Real Estate & Business News – January 11, 2022
New York Developer Closes on Mesa Land, Plans $200M Industrial Park Funded by Dell Technologies CEO New York-based developer Wharton Industrial recently acquired a 101-acre parcel of land in Mesa where it plans on building a $200 million industrial park. The large property is located on the northwest corner of Warner and Sossaman roads near […]