Commercial Real Estate & Business News – September 19, 2024
Real estate industry hopes rate cut will bring better times The U.S. Federal Reserve said it is making a half-percentage-point cut to its benchmark interest rate, a long-awaited move that real estate investors hope will be a first meaningful step toward a recovery of property values, transaction volume and development activity. The formal…» Here’s what’s […]
Commercial Real Estate & Business News – September 18, 2024
Republic Services’ large Phoenix HQ offices up for sublease Republic Services Inc. (NYSE: RSG), one of Arizona’s largest publicly-traded companies, has placed its existing corporate footprint on the market as it kicks off construction on a new headquarters office in Phoenix. The environmental services company’s current headquarters, a…» Will the Fed Go Big or Start […]
Commercial Real Estate & Business News – September 17, 2024
Economist: U.S. inflation but cooling as Arizona outperforms healthy national economy Phoenix outpaced the nation both in wage growth and employment growth last year, as cooling inflation and a more balanced job market nationwide can be expected to carry into next year. Economists speaking at the Greater Phoenix Chamber’s Economic Outlook discussed…» California firm acquires […]
Commercial Real Estate & Business News – September 16, 2024
NY investor sells Phoenix apartments for record price New York-based Clarion Partners just sold a 497-unit Valley apartment community for $187.5 million, according to Tempe-based Vizzda LLC — nearly three times its $64.25 million purchase price in July 2004. The deal represents the largest single asset multifamily sale in Arizona so…» What’s next for Steward hospitals in Arizona? […]
Commercial Real Estate & Business News – September 13, 2024
U.S. Labor Market, CRE Still on Track for Fed Soft Landing Assessing the overall health of the economy and its impact on the commercial real estate sector is all about perspective for John Chang, senior VP of research services at Marcus & Millichap. In a recent market update from the firm, Chang argued that…» Phoenix […]
Commercial Real Estate & Business News – September 12, 2024
Multibillion-dollar semiconductor project proposed in Peoria Another multibillion-dollar semiconductor manufacturing plant is being proposed in Arizona. Phoenix-based Hyperion Technologies Inc., a newly formed company, is planning to establish a West Valley manufacturing plant for high-density interconnect substrates, which support the functionality of…» Inflation Comes in Under Expectations at 2.5% The Consumer Price Index increased month […]