Commercial Real Estate & Business News – August 18, 2023

The U.S. commercial real estate industry’s ability to get credit and, therefore, fortunes have strong ties to the 4,648 insured banks (according to the FDIC) in the country that provide about 38.6% of CRE loans. Anything that negatively affects the stability and credit…»

The developer behind the Cannon Beach surf park is adjusting project plans to make way for more attractions. Those adjustments include adding 20,000 more square feet of beach and an excavation for a 17-foot cliff-diving lagoon. As the build-out continues throughout…»

A new double-drive-thru Starbucks near Phoenix is billed as the Seattle-based company’s first in Arizona as many fast-food chains boost tech-enabled service and encourage high-volume, car-bound customer traffic. The store at 10655 W. Indian School Road replaces a…»

Two land sales in Buckeye, Arizona, totaling 225 acres for $37 million, will be developed into the massive 3.6 million-square-foot Buckeye 225 industrial park. The Land Advisors Organization team of Greg Vogel, Bobby Wuertz, Ben Heglie and Max Xander represented the…»

The notion of widespread distress among commercial real estate assets leading to fire sales is overblown, according to comments that Hessam Nadji, President and CEO of Marcus & Millichap, made to CNBC this week. Nadji said nearly every asset class, except for office,…»