Commercial Real Estate & Business News – August 23, 2024
Expanding Retail Tenants Remain Active in Hunt for New Locations Retailers shook off numerous economic headwinds and signed leases for slightly more than 52 million square feet during the second quarter, an increase of more than 10% compared to the leasing averages recorded over the past two years for that quarter — and the most […]
Commercial Real Estate & Business News – August 22, 2024
Glum Consumers Turn to Retail Therapy The University of Michigan’s index of consumer sentiment brightened in early August, rising from an eight-month low of 66.4 to 67.8. But the news might not be as positive as the headline would suggest. Consumers expect the Federal Reserve to lower interest rates soon and see a better environment…» Lending Momentum […]
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 […]