Commercial Real Estate & Business News – July 20, 2023
Builder Confidence Rises Despite Rising Rates, Material Costs, Labor and Lot Inventory Low inventory may not be good for potential homeowners shopping for a home but it’s keeping builders feeling a bit more confident that there are buyers eager for new single-family homes. This was the conclusion from the National Association of Home Builders (NAHB)/Wells […]
Commercial Real Estate & Business News – July 19, 2023
Next 12 Months Pivotal for Commercial Real Estate Debt Maturities Over the next 12 months, the U.S. commercial real estate sector will grapple with the reality that three-quarters of a trillion dollars in loans are scheduled to come due this year and next. Within the context of $4.5 trillion in U.S. commercial real estate debt, […]
Commercial Real Estate & Business News – July 18, 2023
Phoenix Metro Office Rents Tick Up Amid Negative Absorption in the Market One step forward, one step back, according to the Q2 2023 Phoenix metro office reports from commercial brokerage firms Avison Young, CBRE Group Inc. and Cushman & Wakefield. While net absorption rates for the Valley market seemed to be inching closer to a […]
Commercial Real Estate & Business News – July 17, 2023
A New Estimate: Office Could Lose $800B in Value by 2030 A new McKinsey Global Institute report estimates that by 2030 across nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai, and Tokyo — there could be a projected loss of $800 billion of office value in real terms. […]
Commercial Real Estate & Business News – July 13, 2023
Google Starts Work on $1 Billion Data Center in Mesa Google is moving dirt on its $1 billion data center campus in southeast Mesa. The project, which was often referred to by its codename “Redhawk,” is being built on more than 185 acres near the northwest corner of Sossaman and Elliot roads. Google said construction […]
Commercial Real Estate & Business News – July 12, 2023
Google Starts Work on $1 Billion Data Center in Mesa Google is moving dirt on its $1 billion data center campus in southeast Mesa. The project, which was often referred to by its codename “Redhawk,” is being built on more than 185 acres near the northwest corner of Sossaman and Elliot roads. Google said construction […]