Commercial Real Estate & Business News – June 5, 2024
Don’t Sleep on the Possibility of a Fed Rate Cut in July, Economists Say Most Wall Street economists think investors can take the summer off, with no Federal Reserve rate cut on the horizon. But some economists still say there is a chance the central bank will lower its policy rate at its July meeting. […]
Commercial Real Estate & Business News – June 4, 2024
$250 Million Park Algodon Breaks Ground in Phoenix Park Algodon, a $250 million industrial and mixed-use project in Phoenix, officially broke ground this week by leading Phoenix-based real estate development firm Creation, alongside joint-venture partner Clarion Partners. To mark the occasion, the developer held a groundbreaking…» Sole Bidder Mack Real Estate Buys 2,300 Acres Near […]
Commercial Real Estate & Business News – May 31, 2024
Debt Originations May Have Bottomed CRE debt organization has continued to slow but has reached a virtually flat position, according to Newmark’s 1Q24 State of the U.S. Capital Markets. Origination volumes were down only 2% year over year in the first quarter of 2024 — still a drop but a significant improvement…» Mack Real Estate […]
Commercial Real Estate & Business News – May 30, 2024
This Longtime South Phoenix Nursery is Being Replaced. Here’s What’s Coming One of the last remaining large pieces of land along Baseline Road in south Phoenix, long home to a wholesale tree nursery, is to be developed into houses, apartments and commercial buildings, including retail stores and restaurants. The 104-acre stretch of land located at […]
Commercial Real Estate & Business News – May 29, 2024
Multifamily Absorption Skyrockets in Q1 A record number of apartments were absorbed in Q1. Surging by nearly 104,000, that blows away the average of 12,500 recorded in that time frame over the past 30 years, Marcus & Millichap reported. “With traditionally strong spring and summer months still to come, should put…» Real Estate Investment Firm […]
Commercial Real Estate & Business News – May 24, 2024
Developer to Breathe New Life into Abandoned Phoenix Golf Course, Build 415 Homes An abandoned golf course at the southeast corner of 59th and Southern avenues in Phoenix’s Laveen Village could get a new lease on life, after years of intense talks between the property’s owner and community residents. “It’s not fair to call it […]