Commercial Real Estate & Business News – August 19, 2024

The CMBS special servicing rate is continuing to creep higher. In July, it was up month-over-month, by seven basis points to reach 8.30%, according to Trepp. This year, special servicing started at 6.95% and has grown every month, meaning an additional 135 basis points since…»

Comtech, a global technology leader, today announced the relocation of its corporate headquarters from Melville, NY to Chandler, AZ. Comtech’s new corporate headquarters in Chandler boasts approximately 150,000 square feet of state-of-the-art office, engineering and manufacturing…»

A new study ranks Phoenix as one of the nation’s best real estate cities over the past several decades. Phoenix ranks as the second-best performing city in the country for real estate development between 1980 and 2023, according to the analysis from StorageCafe. The Valley trails only…»

Robert Samuel, a trustee of the Phoenix-based Robert C. Samuel Revocable Trust, bought the 38-acre campus leased to CVS Caremark at 9501 East Shea Boulevard, the Phoenix Business Journal reported. Samuel leads Samuel & Company, a property management firm. The seller was…»

MDH Partners has acquired KV Buckeye 10, a 249,000-square-foot Class A industrial property in Buckeye, Ariz., for $51 million. Kentwood Ventures sold the asset, with JLL brokering the transaction on its behalf. The campus, which came online last year, consists of two buildings…»