Commercial Real Estate & Business News – August 28, 2023
CRE Sales Volumes Show Signs of Life in Q2 Signs are emerging that the market is bottoming, and sales volumes will increase moving forward. There is a lag between offerings and closed transactions, so this recovery is likely another quarter away, according to market update report from Colliers. Multifamily volume…» Development Team Closes on Massive […]
Commercial Real Estate & Business News – August 25, 2023
Apartment Rents are Falling at a Slower Pace in the Suburbs Apartment rents have fallen to minus 0.7%, based on Apartmentlist.com’s most recent estimates for July of this year. This is the first year-over-year price drop the market has experienced since the beginning of COVID-19. But the decline has been uneven ever…» Quarles Exec: Valley […]
Commercial Real Estate & Business News – August 24, 2023
Joint Venture Proposes Apartment Units, Plus Retail and Restaurants in East Mesa More than 60 acres in east Mesa could be home to a new multifamily community and shopping center. Vivo Partners, Hawkins Cos., Greystar Worldwide and Bela Flor Communities are proposing Medina Station at the southeast corner of Signal Butte Road and Southern Avenue in […]
Commercial Real Estate & Business News – August 23, 2023
A Painful Evaluation of the Current State of CRE The CRE industry has been dealt a big blow with eleven interest rate hikes since March 2022 and a federal funds rate that jumped from 0.0% to 5.25%. This rapid interest rate increase has caused expected cap rates to rise to the 6.0%-8.0%+ range from the […]
Commercial Real Estate & Business News – August 22, 2023
Improving Indicators Bode Well For CRE Later This Year Virtually every confidence indicator is on the rise and the threat of an imminent recession is falling while recent data show that inflation is nearing the Federal Reserve’s goals set more than a year ago. The overall inflation number reported last week was not what many […]
Commercial Real Estate & Business News – August 21, 2023
Searching in Seattle: Most New Residents to Phoenix Area Come from These 4 States People who get a lot of rain seem to appreciate a dry climate. Almost half of the 5,300 searchers on Redfin checking out Phoenix area houses during June and July were from Seattle, according to the real estate brokerage. But Washington […]