Commercial Real Estate & Business News – January 8, 2024
What To Watch in 2024: Industrial Vacancy Rates Could Hinge on the Pace of Construction Many U.S. industrial properties began 2023 in a well-leased position and remained that way throughout the year. Even property owners with leases that were expiring were, in most cases, able to renew those leases, often at rents that were more […]
Commercial Real Estate & Business News – January 5, 2024
Controversial Development Near Steele Indian School Park Gets Phoenix City Council Approval A plan to develop a long-vacant lot adjacent to Steele Indian School Park was unanimously approved by the Phoenix City Council on Wednesday, despite some opposition from neighbors who claimed a previous version of the project was preferable. The development, called…» A 120-Year […]
Commercial Real Estate & Business News – January 4, 2024
Phoenix Industrial Market Delivers a Record Volume of New Deliveries in 2023 The Phoenix industrial market delivered a record volume of new deliveries in 2023, according to an analysis from Kidder Mathews. NEW DELIVERIES skyrocketed to a record level 29.8M SF in 2023. RENTAL RATES climbed to a new high of $1.06 PSF NNN. SALES […]
Commercial Real Estate & Business News – January 3, 2024
Top CRE Predictions for 2024 Last year took many twists and turns, some of which were forecast and many of which were not. Hopefully we are on a more predictable path this year as many of 2024’s expected themes have their seeds in 2023. Following are my top predictions for 2024. 1. The booming industrial…» […]
Commercial Real Estate & Business News – January 2, 2024
9 Renters Competed for each Vacant Phoenix Apartment in 2023 As the year draws to a close, what were the most competitive rental markets of 2023? RentCafe.com’s 2023 Year-End Report analyzed 139 rental markets in the U.S. and ranked them based on five key metrics for rental competitiveness. The analysis found that Phoenix is the […]
Commercial Real Estate & Business News – December 22, 2023
DMB Associates Seeks to Amend One Scottsdale Project to Add Residential Units Seeing a change in market dynamics and looking to capitalize on a “lifestyle” component to its project, DMB Associates Inc. wants approval for a key amendment at its $1 billion mixed-use development across 120 acres in north Scottsdale. Earlier this month, DMB filed […]