Commercial Real Estate & Business News – February 14, 2025
NRF: Retail sales fall in January, but show strong year-over-year gains Consumers pulled back on spending in January after a stronger-than-expected holiday season. Core retail sales — excluding restaurants, automobiles and gasoline — were down 1.27% month-over-month in January, but up 5.72% year-over-year, according to the CNBC/NRF Retail Monitor, released…» US retail spending slows but […]
Commercial Real Estate & Business News – February 13, 2025
CRE Lending Rises as Capital Comes Off the Sidelines CBRE has a new report on commercial lending momentum. With an eye to classic movies, it might as well have been called, “I’m going to make him an offer he can’t refuse.” This is a moment many in CRE have waited for over the last few […]
Commercial Real Estate & Business News – February 12, 2025
Here are the sectors driving job growth in Arizona Arizona added nearly 57,000 jobs year-over-year in 2024 as Arizona job growth continues, according to an analysis. Arizona added 3,400 seasonally-adjusted jobs over the month in December, similar to revised job growth in November of 3,500. The preliminary November data put growth at 4,100 jobs. In […]
2025 Southern AZ CCIM Forecast: Insights and Trends Recap
As we navigate through 2025, the Tucson commercial real estate market continues to evolve, presenting both challenges and opportunities across the various commercial property sectors. Like the Phoenix Forecast, here are my notes from 2025 Southern Arizona CCIM Forecast conference, held on February 10, 2025. This summarizes the various panels as well as some key […]
Commercial Real Estate & Business News – February 11, 2025
Arizona’s economy: Headed into uncharted waters Even with significant headwinds from reduced housing affordability, elevated interest rates, and tight labor markets, Arizona continues to generate solid economic growth. Job gains are far outpacing national growth in the preliminary data and may be growing even faster than the data…» 9 Arizona cities rank as best places […]
Commercial Real Estate & Business News – February 10, 2025
Phoenix wants to redevelop downtown garage into hotel The city of Phoenix wants to partner with a real estate developer to turn a large downtown parking garage into a new hotel. It’s planning to issue a request for proposal to redevelop the Regency parking garage located on Adams and 2nd streets next to the Hyatt […]