Commercial Real Estate & Business News – September 23, 2021
US Single-Family Rent Growth Hits 16.5-Year High Single-family rentals continue to be one of the highest performing housing sectors for rent growth, according to the CoreLogic Single-Family Rent Index (SFRI). Single-family year-over-year rent growth reached a 16.5-year high in July 2021 as the increase in US single-family rents were up 8.5%, or nearly five times […]
Commercial Real Estate & Business News – September 22, 2021
Bell Bank Secures Naming Rights to 320-Acre Sports Complex in Southeast Mesa After breaking ground September 2020, Legacy Sports USA and Oak View Group are moving closer to opening its more than $280 million multipurpose sports and entertainment complex in southeast Mesa.The two companies announced on Tuesday a 10-year naming rights deal with Bell Bank, […]
Commercial Real Estate & Business News – September 21, 2021
CRE Brokers Gaze Into Crystal Ball, Have Mixed Outlook on Valley Market Commercial real estate brokers around the Valley expect to see additional office space on the sublease market as employees opt to work from home. That will be countered to a degree, many say, by firms looking for space as they move to Phoenix […]
Commercial Real Estate & Business News – September 20, 2021
Business Travel Revenue Won’t Reach Pre-COVID Levels Until 2024 Business travel revenue will not likely hit pre-pandemic levels until 2024, with New York City, Washington DC, and San Francisco among the markets with the longest recovery ahead.A new report from the American Hotel & Lodging Association and Kalibri Labs predicts the hotel industry will end […]
Commercial Real Estate & Business News – September 15, 2021
Ohio-Based Developer Enters Phoenix Market With Large West Valley Industrial Projects A national developer has started construction on a West Valley industrial project, its first development in the Phoenix metro, and has plans to build more. Columbus, Ohio-based The Pizzuti Companies has just broke ground on Cotton 303 Logistics Center, a 915,160-square-foot speculative industrial building […]
Commercial Real Estate & Business News – September 14, 2021
Apartment Retention Rates Surge to Near Lockdown-Era Peaks Apartment retention rates are soaring back to lockdown-era highs, as more renters are determining that staying in place is often the best and most affordable option – given a remarkable lack of alternatives for all types of housing and for all price points.The share of renters choosing […]