Commercial Real Estate & Business News – December 11, 2024

Retail has generally seemed to hold out through many of the trials facing CRE, in general. Right now, some data from Newmark might leave you confused about what is happening now. First is current economic conditions. As the firm noted, consumer wage growth is outpacing inflation…»

VIVO Development Partners has broken ground on the dual-branded Tempo by Hilton and Homewood Suites by Hilton at Gallery Park in Mesa. The groundbreaking ceremony, held on December 5, marked a significant milestone in the realization of Gallery Park, an emerging…»

South Carolina-based Greystar is investing more than $550 million to bring 1,400 multifamily units to metro Phoenix. On top of that, the developer has another 500 units in the predevelopment phase in the Valley, said Billy Cundiff, Greystar’s managing director for development. Greystar…»

A former Phoenix public housing development is planned to be repurposed into a commercial space meant to serve the nearby community, with a new housing project catering to a mix of incomes planned next door. Phoenix’s housing department is working to prepare a…»

A Phoenix shopping center developer got approval from the Phoenix City Council to build a 20-acre retail development directly north of Pinnacle High School, despite some members of the community voicing their opposition. Vestar, the developer of nearby Desert Ridge Marketplace…»