Commercial Real Estate & Business News – January 29, 2024
2024 IREM | CCIM ECONOMIC FORECAST RECAP – Key takeaway: Overall, the Arizona real estate market is expected to experience slower growth in 2024 compared to the past 2 years, but will remain largely stable with opportunities and some distress. Real Estate Values Are ‘Bottoming,’ Blackstone Says Blackstone, the world’s largest commercial property owner, […]
2024 IREM | CCIM Economic Forecast Recap
Key takeaway: Overall, the Arizona real estate market is expected to experience slower growth in 2024 compared to the past 2 years, but will remain largely stable with opportunities and some distress. Key insights by property type: Office: Andrew Cheney, CCIM, Andrea Davis, CCIM, George Getz, Michelle Romero, David Verwer, CCIM Return-to-office trends still evolving, […]
Commercial Real Estate & Business News – January 26, 2024
BlackRock: Now Is the Time to Invest in CRE A report from BlackRock Real Estate Research says that investments after periods of downturns tend to perform well afterwards. Specifically, the period starting in 2022 where the Federal Reserve tightened interest rates, which led to lower transactions volumes and declining…» 2023 CRE Deal Volume Down 51% […]
Commercial Real Estate & Business News – January 25, 2024
Phoenix-Area Project Seeks To Time Market as Supply Issues Squeeze Housing GTIS Partners and Clyde Capital plan to develop 90 acres outside Phoenix into a mixed-use property with hundreds of built-to-rent units as supply issues in both the rental and for-sale housing markets create pricing problems for the metropolitan area. The developers believe…» Phoenix Apartments […]
Commercial Real Estate & Business News – January 24, 2024
MBA Forecasts 29% Rise in CRE Loan Volume for 2024 Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion. That’s according to an updated baseline forecast released Tuesday by the Mortgage Bankers Association…» NMHC: Apartment Market Continues […]
Commercial Real Estate & Business News – January 23, 2024
Nearly 50 Phoenix Metro Industrial Buildings Delivered at the End of 2023 Dozens of new industrial buildings added to metro Phoenix’s inventory in the fourth quarter while also increasing the market’s vacancy rate. Nearly 9 million square feet delivered in the fourth quarter to bump the market’s vacancy rate to 8% — double the rate […]