Commercial Real Estate & Business News – February 21, 2023

Commercial Real Estate Executives Are Optimistic About Future Market Conditions

The Real Estate Roundtable’s Q1 Economic Sentiment Index reports that commercial real estate executives, while optimistic about the future, remain uncertain about current market conditions, citing inflation, rising interest rates, and…»

Hotel Sales Get 2023 Off to a Strong Start with Pricing Records

Following a slowdown in sales in the second half of 2022 due to dislocation in the debt markets, hotel investors have kicked off 2023 with record sales for quality assets in highly desirable and growing markets, JLL reported…»

California Investment Firm Pays Record Price for Marriott-Branded Hotel in Phoenix

A Northern California investment firm paid a record price for the AC Hotel Biltmore by Marriott as investors keep scooping up high-end lodging properties across greater Phoenix. Nella Invest, based in Auburn, California, bought the…»

First Look: Glendale Sports Complex, Hotel Could Open in 2024

Glendale-based Mangat Group has made progress on its proposed sports complex in Glendale, which is being developed just west of the city’s burgeoning sports and entertainment district. The new indoor and outdoor complex, called…»

Is the Housing Market Recovering? Here’s Why Home Builders Feel ‘Cautious Optimism.’

After every month in 2022 recorded a decline in builder confidence, could 2023 herald a change? It’s beginning to look that way. Builder confidence in the market for newly built single-family homes in February rose seven points to…»