Commercial Real Estate & Business News – October 22, 2024
Amazon buys massive Valley site for potential data center Seattle-based Amazon.com Inc. (Nasdaq: AMZN) has bought a 220-acre site in Laveen for a potential data center campus in Phoenix. Amazon acquired the site for $277 million in cash through its subsidiary Amazon Data Services, according to land records and Tempe…» West Valley dominates metro Phoenix […]
Commercial Real Estate & Business News – October 21, 2024
Vacant offices draining $800 million from Arizona’s economy New data reveals that vacant offices in Phoenix and Tucson have led to more than $800 million in lost rent. That’s according to a new study from Switch On Business that analyzed office vacancy rates across America to reveal the true cost of vacant office buildings in […]
Commercial Real Estate & Business News – October 18, 2024
Blackstone sees Fed rate cut as ‘catalyst’ for deals, higher property values Blackstone shares surged to a record high Thursday after the world’s largest commercial property owner reported a better-than-expected third-quarter result and an improved real estate investment performance. The private-equity firm invested or committed $54 billion in the quarter, the highest amount in over…» […]
Commercial Real Estate & Business News – October 17, 2024
Much of CRE Is Moving Toward Greater Stability Says Moody’s A Moody’s report has evaluated the steadiness of multifamily performance, continued but not increased stress in office, a fall in retail vacancy, and a cooling of industrial sector. After the highs and lows of the last few years, this sounds like a big reversion to […]
Commercial Real Estate & Business News – October 16, 2024
TSMC jump starts housing, business development in north Phoenix The cranes, visible from miles away, loom over a massive microchip “fab” taking shape in the desert near Loop 303 and Interstate 17. But far more is happening in the North Valley beyond the Taiwan Semiconductor Manufacturing Co. plant, the engine driving much of that…» RealPage […]
Commercial Real Estate & Business News – October 15, 2024
Retail Sector Logs 11th Quarter of Sub-5% Vacancy Consumer resiliency has helped drive core retail sales to a new record in August, with spending up in real terms even after factoring in core CPI inflation. This strength helped drive tenant demand, and the retail sector entered the second half of 2024 as the only major […]