Commercial Real Estate & Business News 6-4-2025
More office space is being removed than added for the first time in at least 25 years After several years of deep distress, the beleaguered U.S. office market has reached an inflection point. This year, office conversions and demolitions will exceed new construction for the first time in at least 25 years. Simply put, more […]
Commercial Real Estate & Business News 6-3-2025
Consumer confidence rebounds in May amid increased optimism Consumer confidence improved in May after five straight months of declines as Americans grew more hopeful about prospects for a trade deal between the U.S. and China. In preliminary readings for May, The Conference Board’s Consumer Confidence Index increased by 12.3 to 98.0, up from 85.7 in […]
Commercial Real Estate & Business News 6-2-2025
A $25 billion data center is slated for this tiny Arizona community A $25 billion data center development is slated for 2,100 acres in Tonopah, following a Phoenix investment group’s purchase of the land. Arizona Land Consulting, led by Anita Verma-Lallian, paired with venture capitalist Chamath Palihapitiya, CEO of Social Capital, to buy the site […]
Commercial Real Estate & Business News 5-30-2025
Income needed to afford rent in Phoenix jumps 35.9% since 2020 The rising costs of living have impacted affordability for renters across the country. Nationwide, renters today need to earn more than $80,000 to comfortably afford the typical rental, up from $60,000 just five years ago. In eight major metro areas, renters now need to […]
Commercial Real Estate & Business News 5-29-2025
Population gains occur unevenly throughout the Greater Phoenix area Newly released data from the U.S. Census Bureau provides a more granular look at which cities and towns within the Phoenix metropolitan statistical area (MSA) have powered the Valley’s strong demographic momentum. In the four-year period from July 1, 2020, to July 1, 2024, the Phoenix […]
Commercial Real Estate & Business News 5-28-2025
CRE Market Shows Mixed Signals as Sales Slow Commercial activity has been mixed during the first quarter, according to Altus Group Ltd.’s quarterly report on CRE investment and transactions. The firm described the market activity as “generally subdued,” although pricing trended higher and multifamily and office drew more capital than a year ago. The average […]