Commercial Real Estate & Business News – February 28, 2024

Anyone in the industry could reasonably be tired of hearing how much trouble banks potentially face over CRE loans — especially the bankers. It’s not that people are enjoying this. And it’s not as though huge numbers of banks are about to fold. The concerns are also reasonable, given…»

More than two dozen of WeWork’s U.S. landlords have withdrawn motions in recent weeks that asked a bankruptcy court to make the coworking space provider pay rent, a development that shows some progress in negotiations for WeWork to emerge from bankruptcy protection. But there’s…»

The Phoenix retail market has rebounded since the pandemic and is benefiting from continued consumer demand, steady population growth, and significant development in the technology industry, centered around the chip manufacturing sector. All of this positive economic performance…»

A New York City-based financial services firm has made a big acquisition in the Southeast Valley. On Feb. 21, Two Sigma bought the 202 Business Park — a multi-building industrial park at 560-620 E. Germann Road in Gilbert. The firm paid $51.6 million for the park, which is the highest…»

Three new dining concepts are planned for the long-struggling Arizona Center, which was purchased by a Phoenix-based real estate investor last year. Phoenix-based Pretty Decent Concepts, the creators of Chico Malo, Wren & Wolf, and the upcoming Carry On restaurants, is going to…»