Commercial Real Estate & Business News – January 12, 2022

Secondary and tertiary markets across the American West and Florida are projected to be multifamily out performers in 2022, led by Phoenix, Las Vegas, Tampa, Tucson, and Albuquerque, according to new research from Freddie Mac. Those cities are projected to post annualized growth in gross income ranging between 6 and 7.6%, with vacancies hovering in neighborhoods of between…»

Greater Phoenix, once hailed as a sunny oasis with a low cost of living, is becoming a harder place for many to afford. Rising rents have eroded the take-home pay of many renters. Zillow, an online real estate company, released a market report noting that annual rent has grown 25.6% in Phoenix. A separate Zillow analysis stated that the region will slide from…»

Government-sponsored housing finance giant Freddie Mac is returning to the commercial mortgage-backed securities market as strong fundamentals push apartment deals to record-breaking levels.Freddie Mac said it has three offerings on its calendar this week, totaling an estimated issuance balance of $2.6 billion. Unprecedented demand for apartments combined with…»

Two old plans for regional malls in Goodyear are getting wiped from the books, a move that follows years of delays and a changing market. A Westcor-planned mall, first announced in 2006, will be re-envisioned this year, likely into a mix of housing, retail shops and restaurants. An even older, and less detailed, plan for a regional shopping area in the…»

Another parcel of land near the future north Phoenix home of the Taiwanese chipmaker and its new fab site at Loop 303 and Interstate 17 got snatched up for about $16.8 million.According to Vizzda, a real estate data base, the Opus Group — a Minneapo-lis based a commercial real estate company — bought 29.87 acres near…»