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 […]
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 […]