Commercial Real Estate & Business News – April 26, 2024

The advance estimate of GDP for the first quarter was an annual rate of 1.4%. That there would be a drop from the 3.4% rate in the fourth quarter of 2023 was widely expected. The details of what moved and how are important. But first, recognize that this was a slowing of real…»

Construction on the Tohono O’odham Gaming Enterprise’s $450 million casino complex is well underway in the West Valley and is on track to be completed this year. In its first phase, the Desert Diamond Casino White Tanks at San Lucy will feature 900 class III slot machines and…»

With the first quarter of 2024 behind us, it’s important to pause and take a closer look at the trends that have shaped the current state of the construction industry in the greater Phoenix metropolitan market and the factors positioned to further influence its outlook in the…»

Mesa-based Christopher Todd Capital closed April 24 on its its first build-to-rent community, paying $57 million in cash for a 217-unit asset in Avondale. The purchase price is well below what it would cost to build from the ground up today, said Brent Long, president of the newly…»

Portico, the luxury condominium development in the Loop 101 and Scottsdale Road corridor, announced today that it is sold out. The project took only one year from writing its first binding contract to sell all of its 112 units. Portico is award-winning developer Belgravia Group’s…»