Commercial Real Estate & Business News – July 29
206 Acres of Land in Avondale Sells For $247 Million In one of the biggest commercial real estate deals of the year, QTS Data Centers acquired 206.08 acres of land in Avondale for $246,866,895, according to Vizzda. The sellers were Terry Klinger and Grand View Dairy. The sale breaks down to $1,198,014.82…» Rents Will Eventually Moderate in […]
Commercial Real Estate & Business News – July 26, 2024
U.S. Economy Grew at a 2.8% Pace in the Second Quarter, Much Faster than Expected Economic activity in the U.S. was considerably stronger than expected during the second quarter, according to an initial estimate Thursday from the Commerce Department. Real gross domestic product, a measure of all the goods and services produced during the April-through-June period, […]
Commercial Real Estate & Business News – July 25, 2024
How the West Valley Evolved Into Hotbed for Innovation and Growth Buckeye Mayor Eric Orsborn recounts a 2015 story that perfectly illustrates how the perception of the West Valley has dramatically evolved in less than a decade. “Then-Phoenix Mayor Greg Stanton was celebrating an investment the City of Phoenix was making in Buckeye,”…» QTS Plans Another […]
Commercial Real Estate & Business News – July 24, 2024
H1 CMBS Issuance Almost 3X Over 2023 The first half of 2024 has been strong for CMBS, with domestic private-label issuance totaling $42.29 billion, according to Trepp. That is almost three times the $16.47 billion the same period in 2023 saw. It’s also up from $24.6 billion in the first quarte…» Phoenix leads the nation in active industrial […]
Commercial Real Estate & Business News – July 23, 2024
Despite Declines, Renters Still Pay $300 More Than Pre-Pandemic While rents fell across all unit sizes in June, especially large declines were seen in the South, according to the Realtor.com Rental Report. Marking the 11th straight month of declines, median asking rents for zero to two-bedroom units fell to $1,743 or -0.4% ($7) from June […]
Commercial Real Estate & Business News – July 22, 2024
The State of Commercial Real Estate in Arizona and What to Expect in the Future Industrial development in Greater Phoenix has seen an impressive growth streak in recent years, with an unprecedented amount of investment coming to the Valley. Other sectors, such as retail and office, have struggled in the post-pandemic landscape, with some…» Dream […]