Commercial Real Estate & Business News – July 2, 2021
Scottsdale Plaza Resort Property Sold for $90.75M The Scottsdale Plaza Resort, one of the largest hospitality properties in the Valley, was acquired by a partnership between premier hospitality management company Highgate and Boston-based real estate private equity firm Rockpoint Group. The transaction priced at…» Construction Begins on UArizona’s New Applied Research Building Construction of the […]
Commercial Real Estate & Business News – July 1, 2021
High-Quality Office Product Generates Heightened Investor Interest As the economy takes steps to recovery, the office sector continues to shift. Hybrid work scenarios and the yet unknown way companies will ultimately utilize office space are keeping investors in a holding pattern. Despite this wait-and-see approach, high-quality…» Leisure Demand Lifts US Hotel Industry Closer to 2019 […]
Commercial Real Estate & Business News – June 30, 2021
How Positivity Is Building in CRE Circles Against the backdrop of real progress against the pandemic and steady signs of economic recovery, new reports from both the CRE Finance Council and RCLCO show the extent of the CRE industry’s optimism about the next 12 months. The CREFC report covers two surveys of the…» Fed’s Stress […]
Commercial Real Estate & Business News – June 29, 2021
Consumer Spending Fell Flat in May After Robust Spring Consumer spending in the United States stayed flat in May, according to data released by the Commerce Department on Friday. But the details underlying the report point to a strong summer season for retailers, the travel industry and entertainment venues, as consumers…» Hundreds More Homes Pegged […]
Commercial Real Estate & Business News – June 28, 2021
Report: Brick-and-mortar Retail isn’t Dying, it’s Evolving COVID-19 accelerated pre-existing trends in the retail industry, prompting changes in the way cities govern that will last far beyond the pandemic, according to the National League of Cities’ (NLC) new report, The Future of Cities: Reenvisioning Retail. The report’s analysis finds that retail…» Leisure Demand Lifts US […]
Commercial Real Estate & Business News – June 25, 2021
Phoenix Among Top 15 Markets for Industrial Rent Growth Tight vacancies and high demand are sparking bidding wars for industrial space across the U.S., driving both asking and taking industrial rent growth to new highs, according to a new report from CBRE. Asking rents increased a record…» Wisconsin Multifamily Developer Breaks Ground on Fourth Valley […]