Commercial Real Estate & Business News – August 6, 2024

Phoenix office construction continued on a slow note in the first half of 2024, with developers commencing new office projects only across nine properties, according to Commercial Edge data. Even if pipeline fundamentals were low, Phoenix maintained its position…»

Okland Capital and San Tan Development Group today announced they have broken ground on phase one of Northside at SanTan Village, a brand new mixed-use development that will bring high-end retail, restaurant and hotel amenities to the SanTan Village submarket in Gilbert, Arizona…»

Developers will begin tearing down Metrocenter in late August or early September, once the companies tasked with redeveloping the massive mall close on their financing to begin asbestos abatement and demolition. Demolition is coming later than expected, according to Steve Betts…»

Consumer spending seems to be robust. At least according to the recently released gross domestic product estimate. Ongoing spending—especially in the face of inflation and higher prices—is one reason why experts in the retail space told Connect CRE that their outlook remains…»

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to…»