Commercial Real Estate & Business News – June 14, 2024
Former DEA HQ Becomes Alloy Midtown in Office-To-Apartment Conversion Phoenix’s Office of Heat Response and Mitigation has released the first draft of the city’s shade plan with a focus on certain communities. Wealthier neighborhoods, especially in central and east Phoenix, have a higher percentage of tree canopy coverage compared to lower-income areas …» Younan Properties Acquires […]
Commercial Real Estate & Business News – June 13, 2024
Former DEA HQ Becomes Alloy Midtown in Office-To-Apartment Conversion Soltrust Residential REIT (Formerly Blueprint Capital REIT), an innovative REIT specializing in development of infill, build-to-rent, and value-add apartments, created Alloy Midtown to live up to its name. Alloy is a combination of metals blended into one that creates a stronger…» FrameTec Gets Approval For New […]
Commercial Real Estate & Business News – June 12, 2024
NRF: Retail Sales Jump in May; Largest Month-Over-Month Gain in Over a Year Retail sales rose significantly, showing strong increases both month-over-month and year-over-year, as consumers continued to spend and drive growth. Total retail sales (excluding automobiles and gasoline but including restaurants) rose 1.35% month-over-month in May and…» Phoenix is No. 1 in Nation for […]
Commercial Real Estate & Business News – June 11, 2024
Multifamily Feels Pressure on Loans and Increased Inventory To understand the concerns over multifamily, all it takes is a stroll through the numbers in Newmark’s 2024 Q1 United States Multifamily Capital Markets Report. Inventories and operating costs are up, rent growth is negative, and $669 billion in loans, many “in a very different…» Bank of […]
Commercial Real Estate & Business News – June 7, 2024
Creation to Break Ground on $120 Million The Switchyard Mixed-Use Development in Suburban Phoenix Queen Creek, Ariz. — Development firm Creation is set to break ground on The Switchyard, a $120 million mixed-use development located at the northeast corner of Ellsworth and Ocotillo roads in the Phoenix suburb of Queen Creek. Plans for the 10-acre […]
Commercial Real Estate & Business News – June 6, 2024
Clayco Breaks Ground on 26-Story Ray Phoenix Residential Tower Clayco, a leading full-service real estate, architecture, engineering, and design-build construction firm, has broken ground on Ray Phoenix. The design-forward multifamily residential building features one of the region’s most comprehensive amenity packages, spacious studio, one…» Hard Rock Eyes 2026 Opening Date for Reverb Hotel in Scottsdale […]