Commercial Real Estate & Business News – January 25, 2023

Developers Close on Metrocenter Mall in Phoenix With $850M Redevelopment Set to Begin

PHOENIX — Developers have closed on the purchase of Metrocenter Mall in Phoenix with $850 million redevelopment plans to begin immediately. Concord Wilshire Capital and TLG Investment Partners, in partnership with…»

P&G Buys Site for Phoenix-Area Factory

Procter & Gamble Co. has completed the acquisition of approximately 430 acres in Coolidge, Ariz., for the development of a new industrial property to support the consumer goods company’s portfolio of fabric care products, Phoenix Business Journal recently…»

Finally Out of Negative Territory, REITs Make a Minor Rebound

BTIG has some good news about REITs: Heading into guidance season, they are up 0.1%. That’s much better than the 27.0% loss during 2022. BTIG also has some, if not bad, then very cautious news. “Not that this is any time for complacency, though, as…»

What’s in Store for Multifamily Markets in 2023?

Heading into the new year, multifamily experts are concerned about how the industry will be impacted by the rise in interest rates as the Federal Reserve continues its efforts to cool inflation. “The inevitable economic slowdown raises questions about…»

Here’s Where Residential Real Estate is Anticipated to go in 2023

From enormous gains to an anticipated tempering, a lot has happened over the course of 2022. That’s according to a report based on the most recent ARMLS data released by Phoenix REALTORS that outlines the state of…»