Commercial Real Estate & Business News – April 25, 2024

With the spring home-buying season now upon us, potential home buyers are facing difficult choices as they watch already-high mortgage rates and home prices climb further, and a portion are opting to stay on the sidelines until buying conditions improve. The Mortgage…»

Valley surfers wanting to catch some waves without leaving the state will have the option later this summer, as a development that includes a surf park is nearing opening in Mesa. Cannon Beach, a 38-acre development in Mesa anchored by a surfing lagoon, is under construction…»

Reshoring manufacturing has become a trend since the pandemic, as reported by outlets like CNBC, and it all comes down to supply chains. But those in industrial CRE who could benefit from it are learning that keeping up with foreign exchange issues and the current strength…»

A proposed luxury apartment community just east of Biltmore Fashion Park that has met steep opposition is a step closer to being built after some design changes. The Camelback East Village Planning Committee unanimously approved a 60-unit apartment community…»

A housing bill signed into law by Gov. Katie Hobbs could help with two major challenges in metro Phoenix: housing shortages and a surplus of vacant commercial buildings. House Bill 2297 will allow developers to convert or demolish a small portion of a city’s commercial…»