Commercial Real Estate & Business News – May 5, 2015
Haggen Prepares for Quick Entry into Phoenix Grocery Market It will only take 40 hours for grocery chain Haggen to take over and rebrand the Arizona grocery stores it acquired from Safeway and Albertsons… Read more » Rents Spike as Vacancy Continues to Tighten The Greater Phoenix multifamily market continued to ride a wave of momentum to […]
Commercial Real Estate & Business News – May 4, 2015
The Homeownership Rate Is Now the Lowest Since 1989, But There?s a Silver Lining The U.S. homeownership rate continued to decline in 2015, hitting its lowest level since 1989. But economists saw a silver lining in that number. The seasonally adjusted homeownership rate declined to 63.8% in the first quarter of 2015 compared with 65% […]
Commercial Real Estate & Business News – May 1, 2015
Market Trend: Phoenix Industrial Vacancy Stays at 11.6% The Phoenix Industrial market ended the first quarter 2015 with a vacancy rate of 11.6%. The vacancy rate was unchanged over the previous quarter, with net absorption totaling positive 1,644,484 square feet in the first quarter. That compares to positive 958,472 square feet in the fourth quarter […]
Commercial Real Estate & Business News – April 30, 2015
Phoenix Starts ‘Building Blocks’ of New 32nd Street Less room for cars, more space for bikes and street-side public art are the city’s first investments along 32nd Street under a major revitalization plan for the north Phoenix corridor. The plan ? approved by the City Council in December ? re-envisions the North 32nd Street Corridor, […]
Commercial Real Estate & Business News – April 29, 2015
Federal Mortgage Agency Says More Needed to Police Nonbank Lenders A government mortgage agency says it needs more resources to police the growing ranks of companies rushing to fill the void left by big banks that have stepped away from the market for riskier home loans. Ginnie Mae is asking for more staff in part […]
Commercial Real Estate & Business News – April 28, 2015
Phoenix Apartment Vacancies Lowest In Two Decades, Rents Up Apartment vacancies across Phoenix are at their lowest in two decades and rents increased a record amount during the first quarter, according to new data. Vacancy rates stand at 5.7 percent, down from 13 percent in 2009. Renters moved into 2,800 units during the quarter up […]