Commercial Real Estate & Business News August 5, 2019

Developers in Phoenix Attempt to Keep Up With Office Demand Fueled By Job Growth The Phoenix office vacancy rate dropped to the lowest in 12 years, thanks to robust job growth that is fueling demand for office space. As cited in the latest Phoenix Office Webinar, metro-wide vacancy compressed to 12.2% as net absorption outpaced conservative levels of new supply. While the metro area’s fundamentals strengthened, not all…»
$1B Development Could Revive Midtown Phoenix, Steele Indian School Park
Six high-rise towers may soon replace a long-vacant plot of land at the northeast corner of Indian School Road and Central Avenue in Phoenix – a project that supporters call a first of its kind in Arizona. The planned development, dubbed “The Central Park,” calls for more than 2 million square feet of development on the 15-acre lot…»
Marwest Enterprises Announces Logic Park 91, a New $53M Class-A Industrial Project Coming to West Phoenix
The new $53M, Class-A industrial project will be located at the intersection of 91st Avenue and Buckeye Road in Phoenix. The project is expected to be completed by the end of 2Q 2020. Logic Park’s buildings will range from 230,000 SF to more than 250,000 SF of leasable space and will be delivered simultaneously to meet the…»
CMBS Issuance Focuses on “Bulletproof” Retail Loans
Retail-backed CMBS loans continue to draw mixed reviews from lenders and investors. Where some see a ticking time bomb, others see an opportunity to invest in high-quality, conservatively underwritten retail loans. There is no question that both lenders and investors are wary of the risks associated with retail. “Unless a…»
Pending Home Sales Rebound After 17 Months of Consecutive Declines
The nation’s healthy economic environment drove an increase in pending home sales, pushing the index forward 2.8% in June, according to the latest report from the National Association of Realtors. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased to 108.3 in June, rising from…»