Commercial Real Estate & Business News – August 21, 2024
Home Run Dugout Takes Big Swing in Growing Entertainment Corridor Near Talking Stick A growing Texas entertainment concept is stepping up to the plate near Scottsdale. Austin-based Home Run Dugout, which offers soft-toss baseball batting cages, is opening its first location outside Texas near Loop 101 and Talking Stick Way on Salt River Pima Maricopa Indian Community […]
Commercial Real Estate & Business News – August 20, 2024
Multifamily Developers Transform Downtown Phoenix Skyline The Phoenix apartment market is navigating a multidecade-high wave of construction activity, and at the epicenter of this supply boom is downtown Phoenix. Expansions by higher education institutions, growth in the bioscience industry and a new offering of restaurants, bars and…» Office Market May Be Nearing Bottom, Says Moody’s […]
Commercial Real Estate & Business News – August 19, 2024
Office Leads Higher CMBS Special Servicing The CMBS special servicing rate is continuing to creep higher. In July, it was up month-over-month, by seven basis points to reach 8.30%, according to Trepp. This year, special servicing started at 6.95% and has grown every month, meaning an additional 135 basis points since…» Comtech Relocates Corporate Headquarters […]
Commercial Real Estate & Business News – August 16, 2024
Apartment Rents Hit a Post-Pandemic Milestone — and More Landlords are Sweetening their Deals Rental rates on some apartment types slipped in July compared to the same time a year prior, the first time that’s occurred since June 2020 — the height of the Covid-19 pandemic. Median asking rents for studios and one-bedroom apartments fell […]
Commercial Real Estate & Business News – August 15, 2024
Why 2025 Could be a Pivotal Year for US Hotels For U.S. hotels, the recovery of group demand has helped counterbalance softer transient travel across 2024. Could group demand continue to surge in 2025? Likely yes, but Kelsey Fenerty, manager of analytics at STR, said at the Hotel Data Conference that the next full year […]
Commercial Real Estate & Business News – August 14, 2024
Budget-Strapped Consumers Are Driving Down Inflation Consumers often see themselves as victims of economic forces. But they have more power than individuals realize. First, 69% of GDP is consumer spending. Without individuals living their lives — and paying their bills — there wouldn’t be much of any economic growth…» Record Supply Additions Pour Into Phoenix […]