Commercial Real Estate & Business News – May 13, 2024
Several Large Move-Outs Fuel Negative Net Absorption in Phoenix Office Market Several large office tenant move-outs during first quarter fueled the Phoenix office market to post negative net absorption reaching -572,754 square feet, according to a report released by Colliers. Despite total vacancy rising to 19.9 percent, the city’s landlords have been able to maintain healthy […]
Commercial Real Estate & Business News – May 10, 2024
CBRE: Multifamily Fundamentals Start to Stabilize U.S. multifamily growth is expected to accelerate in the second half of the year amid slowing completions and continued positive net absorption, according to new research from CBRE. CBRE research shows that average monthly rents in the first quarter ticked up 0.4% year…» Build-to-Rent Well-Positioned to Fill Housing Market […]
Commercial Real Estate & Business News – May 9, 2024
Apartment Rent Growth Expected to Accelerate in 2024’s Second Half U.S. multifamily rent growth is expected to accelerate in the second half of 2024 as new construction completions decelerate and positive net absorption continues, CBRE reported. The first quarter saw average monthly rents grow 0.4% year-over-year to $2,163. Notwithstanding…» Developer Buys Site for Student Housing […]
Commercial Real Estate & Business News – May 8, 2024
Top 5 Metros for Industrial Deliveries In 2023, a few top metros for industrial deliveries emerged as the sector further displayed resilience and adaptability, fueled by the reshoring and nearshoring of manufacturing, increased construction spending and the lasting impact of e-commerce. These trends signaled a strategic…» New Jersey Homebuilder Eyes Scottsdale Parcel Currently Zoned for […]
Commercial Real Estate & Business News – May 7, 2024
Arizona is Poised for Further Momentum After TSMC, Intel & Other Semiconductor Victories Arizona, over the past three years, has scored some huge victories in luring major semiconductor investments to the state, including a major Intel Corp. expansion in Chandler and the construction of three new factories in north Phoenix by Taiwan Semiconductor Manufacturing…» Record […]
Commercial Real Estate & Business News – May 6, 2024
Not-for-Profit Group Acquires Laveen Village, Arizona, Land for Power Infrastructure Development Salt River Project Agricultural Improvement and Power District has purchased more than 96 acres in Laveen Village in Arizona for $46.3 million, or $479,444 per acre, from Leon Capital Group. In June 2022, Leon Capital, a Dallas-based investment company, purchased 140.3 acres…» ‘A Challenging, […]