Commercial Real Estate & Business News – April 26, 2023

The city of Phoenix is looking to turn remaining vacant farmland along a major freeway corridor into a new industrial and technology-focused center. Phoenix wants to help developers bring new industrial buildings to the Loop 202 in the Laveen area in the south part of the city by reimbursing…»

On behalf of KBC Advisors Arizona, Phoenix-based Stevens-Leinweber Construction (SLC) has started construction on Empire 101, a new Class A industrial project fronting the Loop 101 freeway, north of Cactus Road in Peoria, Arizona. Located just…»

The owner of Desert Ridge Marketplace and Tempe Marketplace is betting that large-scale retail isn’t dead, it has just moved outdoors. Phoenix-based Vestar has three open-air shopping centers under construction around the Valley, with two large-scale centers, planned to be similar to their…»

CMBS issuance dropped to levels not seen since 2012 in the first quarter, totaling a “mere” $5.98 billion that was 12% less than fourth-quarter volume and 79% less than the same period a year ago, according to a new report from Trepp and…»

The most recent banking troubles, rising inflation, and prohibitive mortgage rates are some of the issues affecting the housing market at the moment. And the latest data supports the fact that the market is losing momentum: While the number of completed units has increased every year since 2012,…»