Commercial Real Estate & Business News – February 2, 2023

Mack Real Estate Group Proposes 1.2M-Square-Foot Scottsdale Industrial-Office park

Nearly a year after acquiring a large — and expensive — site in north Scottsdale, Mack Real Estate Group filed plans to get city approval for its new development. The developer submitted an application earlier this month for the first phase of Mack Innovation Park on the northeast corner of the Loop…>

Phoenix Claims 8th Largest Office Deal in the U.S. for 2022 at $504M

When it comes to the office industry, 2022 was another entry in a series of transformative years. With work time still shared between home and the office (for most companies), the office building continued to take on the role of an amenity-rich, collaboration-enhancing hub. Despite the change in…»

Hotels, industrial sites fill up as many offices stay empty. What’s ahead for commercial real estate

Valley hotels are feeling a sugar rush from Super Bowl visitors. Warehouses and other industrial properties around metro Phoenix are filling with tenants who found it too costly to locate in Southern California. Office high-rises still struggle to cope with work-at-home policies, but apartment complexes…»

Phoenix Named One of Top Three Industrial Markets to Watch in US

The Phoenix metro has been named a top three industrial market to watch in 2023, according to a JLL tenant demand study released that evaluated 60 U.S. markets. This is thanks to the region’s proximity to other strong markets like Southern California, its population growth and robust…»

Fannie Mae Multifamily Ends 2022 With $69 Billion in Volume

Fannie Mae provided over $69 billion in debt financing for the multifamily market in 2022. It also delivered on its mission to provide access to affordable housing through its Delegated Underwriting and Servicing (DUS) platform and low-income housing tax credit (LIHTC) equity investments. “This year…»