Commercial Real Estate & Business News – August 28, 2023

CRE Sales Volumes Show Signs of Life in Q2

Signs are emerging that the market is bottoming, and sales volumes will increase moving forward. There is a lag between offerings and closed transactions, so this recovery is likely another quarter away, according to market update report from Colliers. Multifamily volume…»

Development Team Closes on Massive Land Deal for The Ranch, Plans 2024 Groundbreaking

The team behind one of the largest — and most expensive — mixed-use developments in the East Valley has secured the land for its project that had attracted neighborhood opposition and was significantly altered from its original proposal. Power Ranch…»

The Fed Signals It Isn’t Done Yet

Federal Reserve Chairman Jerome Powell took a firm position in his keynote speech at the Kansas City Federal Reserve Bank’s annual retreat in Jackson Hole, Wyoming, with his opening message previewing the rest of his address: “It is the Fed’s job to bring inflation down to our…»

Phase One of $117M Multifamily Development in Opportunity Zone Breaks Ground in Phoenix

Banyan Residential, a Los Angeles-based private real estate investment firm, in partnership with national developer Milhaus, has commenced construction on the first phase of a new 515-unit luxury apartment community in Phoenix, Arizona. Phase one, a…»

Joint Venture Plans Massive Industrial Park West of Phoenix

A joint venture between two local real estate developers acquired 225 acres in Phoenix’s Buckeye suburb for a business park planned for up to 3.6 million square feet of industrial space.Van Tuyl Cos., based in Scottsdale, Arizona, and Eisenberg Co., with headquarters in…»