Commercial Real Estate & Business News – January 12, 2021

Vacancy Climbs As Rents Fall Across Asset Classes
Apartments, office and retail are all following a similar trend: rising vacancy rates with declining rents. A new report from Moody’s Analytics calls the dynamic “bleak, but not dire,” noting that while most metros are following a similar pattern, most of the declining fundamentals are more moderate…»
Buckeye Targeted for Wildly Popular Build-to-Rent Project
What could be the first build-to-rent community to be built in Buckeye is in the works. Scottsdale-based Matrix Equities paid $5.68 million for a 37-acre parcel east of the southeast corner of Watson Road and Papago Freeway within the Sundance master-planned community in Buckeye…»
Chandler Ranks No. 3 Nationally for Suburb Multifamily Development
Big city life became less desirable as 2020 unfolded. Renters and homeowners alike considered moving out more than ever and the surrounding towns became a focal point of multifamily development in the U.S. But which ones have the capacity to receive new residents? To find out, RENTCafé…»
Fast-Moving Warehouse Developer Buys Land for Industrial Park Near Phoenix
MDH Partners bought 41 acres and intends to build an industrial park in the massive PV|303 development in Goodyear, Arizona, a fast-growing Phoenix suburb that has added millions of square feet of warehouses in recent years. Merit Partners sold the land for an undisclosed…»
Phoenix Economic, Real Estate Leaders Express ‘Guarded Optimism’ for 2021
Economic development leaders and real estate professionals are expressing “guarded optimism” for the Phoenix economy and real estate industry in 2021.Chris Camacho, president and CEO of the Greater Phoenix Economic Council, said he expects the state to regain all of the jobs lost…»