Commercial Real Estate & Business News – February 6, 2024

Luxury Mixed-Use Development in Peoria Slated to Break Ground this Summer

Stadium Point, a major mixed-use development that is expected to boost Peoria’s P83 entertainment district, could break ground as soon as this summer, according to the master developer Steinhauer Properties Inc. The 1 million-square-foot development, which…»

It’s Another Month of Negative Multifamily Rent Growth

Another month for multifamily, another drop in rental rates, according to Apartment List’s newest rent report, which looks back at what happened in January. “The rental market kicked off the new year with a sixth straight month of negative rent growth, as the nationwide...»

Office Leasing Activity May Pick Up This Year but Remains Well Below Pre-Covid-19 Levels

Office leasing activity has started to pick up in recent months, but it remains far from the level it was at before the Covid-19 pandemic. VTS Inc., a commercial real estate leasing and asset-management platform, recently found through its VTS Office Demand Index (or VODI) that…»

The Dry Powder Can’t Get Here Soon Enough

Conditions in CRE are, well, peculiar. On one side the bottom’s getting closer. BlackRock Real Estate Research has said that now is the time to invest in CRE. And Colliers U.S. CEO Gil Borok recently said on CNBC, “Buyer and seller equilibrium is being reached, which also…»

Kohler Co. Manufacturing Plant Now Expected to Start Operations in 2024

Significant progress has been made on Wisconsin-based Kohler Co.’s manufacturing project in Arizona for its Sterling Vikrell bath and shower fixtures. The 1 million-square-foot Casa Grande plumbing products factory, located an hour south of Phoenix in Pinal County, reached…»