Commercial Real Estate & Business News – April 5, 2023

Desert Diamond Casinos, the enterprise arm of the Tohono O’odham Nation, is set to begin construction this week on a new casino in the “far West Valley.” The tribe announced Monday it would be holding a private groundbreaking event on April 5th…»

(Bloomberg Opinion)—The US office market faces a tough road ahead. Corporate tenants are considering scaling back, higher interest rates are hurting valuations and many property owners face looming debt maturities that they may struggle to…»

Entertainment-related foot traffic at U.S. commercial centers continues to rebound from levels seen in the early days of the pandemic, though movie theater attendance remains down 34% from pre-pandemic levels. A new report…»

Cap rates in Q1 2023 represented the highest levels since Q3 2020 for both the single-tenant retail and office sectors, according to a new report from The Boulder Group. Decreasing transaction volume for the greater real estate market continues to…»

JLL CEO Christian Ulbrich sees that sentiment – and investors’ heads – are turning for the better when it comes to the US office market, he said last week, appearing on CNBC’s “Squawk on the Street.”…»