Commercial Real Estate & Business News – April 22, 2024

U.S. CRE Price Declines Continue Deceleration in March

The pace of decline in U.S. commercial real estate prices decelerated in March for the eighth month in a row, led by improvements for industrial sector, MSCI Real Assets said Thursday. The RCA CPP National All-Property Index fell 3.0% from a year ago and 0.2% from February…»

There’s No Reason to Panic About Multifamily

The keynote speaker at’s Spring Multifamily conference, held this week at the Lighthouse on Pier 61 in Manhattan, delivered a pep talk to an audience that really needed one. The weather was too chilly to go outside and enjoy a spectacular view of the Hudson…»

Phoenix-Area Apartment Complex Sells at Discount To Recent Highs

A privately owned real estate firm in California has purchased a Phoenix-area luxury multifamily project at a 25% discount from recent market highs as the area struggles with the fallout from overbuilding, including falling rents and rising vacancy rates. Decron Properties acquired…»

Proposed 165 ft. Office Tower at Biltmore Fashion Park Moves Ahead

A proposal to build a tower at the Biltmore Fashion Park in Phoenix is moving forward after the Phoenix Planning Hearing Officer agreed it met city plans for the area. Macerich, the owner of the shopping center, and Phoenix-based developer RED Development submitted an…»

Wafer Production Underway at TSMC’s Phoenix Factory; Q1 Earnings Beat Expectations

Taiwan Semiconductor Manufacturing Co. is making “significant progress” on its north Phoenix site with engineering wafer production already underway in its first factory still under construction, the company said on an earnings call Thursday. C.C. Wei, TSMC’s chief executive…»