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Commercial Real Estate & Business News – February 8, 2024

Diversified Partners Starts Construction on Mesa Mixed-Use Development

A mixed-use project at a key intersection in the southeast Valley took a big step forward on Jan. 31 — and has a new name. Scottsdale-based Diversified Partners LLC broke ground on a new mixed-use development on the corner of Elliot and Ellsworth roads, which will bring…»

Banks Expecting More Tightening on CRE Underwriting Standards

The Federal Reserve’s Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) regularly checks with banks to better understand their lending landscape. The short take for commercial real estate from the most recent survey is that even tighter underwriting...»

Mall Owner Macerich Leverages ‘Historic’ Demand To Set Company Leasing Record

Macerich raked in a record number of leases last year, and with a potential pipeline worth more than $65 million of incremental rent, the national mall landlord said it isn’t expecting the retail boom to fizzle anytime soon. The real estate investment trust signed more…»

Phoenix Retail Market Shows Strong Growth, Resilience

The holiday season is upon us, and as 2023 draws to a close the real estate community turns its focus towards the future, particularly to what 2024 holds. Let’s look at recent developments and future expectations of the Phoenix retail market, a sector that has shown remarkable…»

New Construction Remains on an Upward Trend in Phoenix for 2024

Multifamily construction starts declined in 2023, but exceeded expectations considering the turmoil in the financial markets. A new report on multifamily construction starts from Yardi Matrix reports that the number of units that broke ground in 2023 ranks third in recent…»