Commercial Real Estate & Business News – January 26, 2021

Overall sentiment across the commercial real estate market is increasing as 2020 becomes a bad memory, with confidence sharply rebounding from historic lows recorded in the middle part of last year. The latest RCLCO Current Real Estate Market Sentiment Index has increased 22.4…»
The national average multifamily rent fell by $4 to $1,462 in December, marking the steepest one-month decline since the start of the pandemic, according to Yardi Matrix’s latest Multifamily National Report. Overall, multifamily rents fell by 0.8% YOY in December, marking a 30-basis point decline…»
The Kroger Co., America’s largest grocery retailer, and Ocado, a world leader in technology for grocery e-commerce, announced Phoenix, Arizona, as the latest location for a Customer Fulfillment Center (CFC). The location confirms a previous announcement stating Kroger and Ocado would construct…»
Technology giant Samsung Electronics Co. is considering multiple sites in the Valley, along with sites in New York and Texas, for a $17 billion semiconductor plant, the Wall Street Journal first reported. A source familiar with the site search confirmed to the Business Journal that Samsung is eyeing sites in the Valley…»
It started before the pandemic, but the trend has only gained steam in the last 12 months. California investors are exiting the market. Regulatory challenges and low cap rates in the state are driving investors to greener pastures—namely Phoenix. “We are seeing a big migration of California investors into Phoenix. If you think…»