Commercial Real Estate & Business News – January 17, 2024

In October 2022, the Wall Street Journal reported that a survey of more than 60 economic forecasters expected the U.S. to enter a recession in 2023 with inflation continuing to run high and employers cutting jobs as the economy contracted. Az Business magazine sat down with the following Greater…»

Angry rural residents brought farm animals to protest apartments planned near the semiconductor plant being built in northwest Phoenix when they attended a neighborhood meeting in April. In Chandler, people unhappy about an affordable apartment project filled a high school assembly room…»

Things are starting to shake loose a bit in a CRE market, says Jones Lang LaSalle. “JLL’s proprietary Bid Intensity Index shows improved market trends since year-end 2022, despite the late summer run up in bond yields,” the company wrote. “Bidding activity was on the rise in late 2023, with the average…»

Two industrial properties have sold across the Valley in the past two months. Newport Beach, California-based CapRock Partners acquired a nearly 250,000-square-foot industrial facility for $20.4 million through a new loan and a $1.6 million down payment, according to Maricopa County land…»

Plans are in the works to renew certification for new housing that was halted over groundwater shortages in two of the Valley’s fastest growing areas. Catch up quick: Gov. Katie Hobbs last June announced a moratorium on new subdivisions in the Phoenix area that rely solely on groundwater, a policy…»