Commercial Real Estate & Business News – January 12, 2024

Even the experts appear reluctant to predict what 2024 holds for the commercial and multifamily mortgage markets, though they hope the year will bring more clarity. The just-released Mortgage Bankers Association’s 2024 Commercial Real Estate Finance Outlook Survey…»

Metro Phoenix ended 2023 with one of the nation’s lowest urban inflation rates, in sharp contrast to the situation one year earlier. The Phoenix-Mesa-Scottsdale area logged a 2.7% inflation rate for the 12 months through December, the federal Bureau of Labor Statistics reported…»

Amazon.com Inc. looks to be getting closer to starting construction on two separate data center projects in southeast Mesa. The company filed requests on Jan. 8 to the city of Mesa’s planning and zoning board asking for site plans to be approved as well as for…»

Metro Phoenix led the nation in new manufacturing jobs announced since 2020, according to a report from commercial real estate firm Newmark. According to the report, 14 new manufacturing facilities were announced in Phoenix over that time, adding 15,466 new…»

The industrial vacancy rate topped 5% in the fourth quarter for the first time in three years and that trend is expected to continue through 2024 as new supply outstrips demand, according to Colliers’ Craig Hurvitz in a new report. He said the vacancy rate is forecast to stabilize at…»