Commercial Real Estate & Business News – April 4, 2022

Global office demand could drop by between 10 and 20 percent in the long run as companies continue to grapple with the implications of hybrid work, Barclays analyst Lea Overby told CNBC this week. The sector has held up so well (relatively speaking) thus far…»

Construction has begun on a 402-unit multifamily development project in the West Valley.Atlanta-based Wood Partners has teamed up with New York-based CP Capital US to build Alta 99th, which will be at the southeast corner of Campbell and 99th avenues in Phoenix,…»

Up until recently, capitalization rates associated with multifamily sales in primary cities have been among the lowest in the nation, reflecting investor expectations of increasing rents and higher returns on investment. As population and employment growth in secondary…»

Representatives from North American Development Group, Will Bruder Architects, LJC and Clayco joined local officials to celebrate the official groundbreaking of PALMtower Residences at Arizona Center, a new 28-story tower in downtown Phoenix. Owned by North American…»

The median listing price for a home in Metro Phoenix topped $500,000 for the first time, nearly $100,000 more than the national average for home prices.Nationally, home prices hit $405,000 for the first time ever in March, but data reveals there is some hope on the…»