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 […]
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 […]