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 […]
Commercial Real Estate & Business News – January 10, 2022
SFR, Multifamily Battle for Investment Dollars The flows of cash aren’t all pulling out of multifamily and settling into single-family rentals. But the SFR category has been getting more attractive to big investors over time and has become a force to reckon with.A presentation from real estate consulting firm RCLCO pegs the current SFR market—including…» Here’s […]
Commercial Real Estate & Business News – January 7, 2022
Sticker Shock Coming for Renters Receiving Concessions The multifamily sector has experienced the effects of an increase in pent-up demand this past year, resulting in higher-than-average asking rents as well as concessions, depending on the type of apartment and its location. Class A concessions peaked in March at 9.9% and have been falling since, but […]
Commercial Real Estate & Business News – January 6, 2022
Here is the Phoenix Commercial Real Estate Outlook for 2022 As we close the page on 2021, hopes that we would be doing the same on COVID-19 have stalled. The Omicron variant has been shuttering businesses, canceling flights and clouding the near-term outlook. But ever since the emergence of COVID-19 in early 2020, one thing […]