Commercial Real Estate & Business News – April 28, 2023

One of the final pieces of a major community in Peoria is slated to start construction next year and will feature a new commercial core across 320 acres. The site is being branded as Five North at Vistancia, a high-quality lifestyle hub featuring a main street restaurant and retail corridor with…»

Miami-based Lennar Corp. (NYSE: LEN), which sells homes for an average of $515,000 in metro Phoenix, is introducing a more affordable home design that starts in the low $300,000s. The homebuilder is launching a new series called Premier Homes, addressing the need for first-time…»

The first quarter of 2023 was a disappointment by broad economic measures. The consensus 2% real GDP growth expected by economists polled by Dow Jones instead was 1.1%, according to the Bureau of Economic Analysis. That’s also the second consecutive quarter of declining growth,…»

The nation’s retail real estate sector might not be thriving, but right now it’s showing broad strength, with falling availability and steady absorption, helped by a development pipeline described as “muted,” according to newly released first-quarter figures from CBRE. Less-welcome news is…»

In the wake of failures of Silicon Valley and Signature banks this March, media outlets have been awash with speculation that the regional bank sector, and with it, commercial real estate, were headed for a crisis similar to the one seen during the Great Financial Crisis (GFC). Such takes might get…»