Commercial Real Estate & Business News – April 2, 2024

With Arizona Layoffs Slowing, State’s Economic Outlook is Solid, Experts Say

Arizona’s job market has been solid lately, and it’s showing up in fewer layoffs. Both the number and magnitude of major layoff announcements declined sharply in the first quarter of 2024 compared with the same three months of 2023. Some 21 employers reported layoffs to...»

Arizona Legislation Could Help Coyotes Arena Financing, Bring New Soccer Stadium to Valley

A former Arizona Coyotes executive is endorsing state legislation that he hopes will help a group unconnected to the team build a mixed-use development near Mesa that could include a professional soccer stadium. If passed, the bill could also help his former employer finance a…»

Phoenix Leads U.S. Data Center Markets in Average Asking Rates

North American data center pricing approached record levels in 2023, with Phoenix boasting some of the highest average asking rates among U.S. data center markets ($170 – $200) for 250-500 kilowatt (kW) per month, according to CBRE’s latest North American Data Center…»

Elevated Interest Rates Pose Long-Term Risk to Apartments

A prolonged period of elevated interest rates –– compounded by rising operational costs –– continues to impact rental housing providers nationwide. Beyond myriad effects on day-to-day industry operations, rising rates also pose a long-term risk to the future of apartment…»

Hotel Executives Say Transaction Environment Is Reaching Inflection Point

Getting a deal done for a hotel has been difficult over the past few years, with inflationary pressures and banking woes headlining the difficulties. That could start to change in the second half of 2024, hotel executives say. During the “Market Overview: Financial Analysis…»