Commercial Real Estate & Business News – February 18, 2025

Lucid Motors’ forthcoming luxury electric SUV Gravity on display outside the Michigan State Capitol on Tuesday, Feb. 27, 2024, in Lansing. The California-based EV manufacturer anticipates opening an employment hub in Michigan creating more than 250 jobs…»

Phoenix has two hotels in the works to add more than 450 rooms downtown, but experts say it’s not enough for the city to stay competitive in the convention business. “Right now, within half a mile of the convention center, we have just around 4,500 hotel rooms, while a lot of cities that we compete against…»

For the Q4 2024 industrial markets ranking report, CommercialCafe looked at key performance indicators across 30 major industrial markets in the U.S., tracking them each quarter. Markets are ranked based on several metric categories: vacancy, pipeline, average rent, upcoming loan maturities, and quarterly shifts…»

Housing affordability continues to be a pressing issue across the country. According to the National Low Income Housing Coalition, the U.S. has a shortage of 7.3 million rental homes affordable and available to renters with extremely low incomes. There are 34 affordable and available…»

Confidence in the market for new multifamily housing produced mixed results year over year in the fourth quarter of 2024, according to the Multifamily Market Survey (MMS) from the National Association of Home Builders (NAHB). The MMS produces two separate indices. Although the Multifamily Production Index (MPI) increased seven points to 48 year over…»