Commercial Real Estate & Business News – January 10, 2025

Commercial real estate investors have much to look forward to in 2025, both from an operational standpoint and an investment transaction point of view, said John Chang, national director of research and advisory services at Marcus & Millichap. Describing 2024 as a choppy year for CRE, Chang noted that…»

Grocery giant Albertsons Cos., with its $24.6 billion merger with Kroger derailed, said it can return to streamlining its sizable store fleet in a process that will include closing some stores. Executives of the Boise, Idaho-based supermarket chain, which has roughly 2,300 stores, on Wednesday conducted their first…»

Developer Overton Moore Properties (OMP), along with its partner, Invesco Real Estate (Invesco), have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 sq. ft. on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe at…»

New York-based development firm Left Lane is working through plans to turn the former Phoenix Financial Center into an urban, mixed-use resort to be called Recess Phoenix. Left Lane has envisioned converting the 18-story office tower, known as the Punchcard Building, into 209 hotel rooms and 143…»

Job seekers in several Valley cities have it pretty good, according to a report that puts Scottsdale ahead of all the rest nationwide. WalletHub ranked Scottsdale first in its 2025 Best U.S. Cities for Jobs report, while three other Valley cities landed in the top 20 out of 182 municipalities to make the list…»