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Commercial Real Estate & Business News – January 26, 2024

BlackRock: Now Is the Time to Invest in CRE

A report from BlackRock Real Estate Research says that investments after periods of downturns tend to perform well afterwards. Specifically, the period starting in 2022 where the Federal Reserve tightened interest rates, which led to lower transactions volumes and declining…»

2023 CRE Deal Volume Down 51% from 2022

Just $374 billion of commercial real estate sold in the U.S. last year, the Wall Street Journal reported Wednesday, citing data from MSCI Real Assets. That’s a 51% drop compared with 2022 and also 14% lower than in 2020, when prospective buyers couldn’t view buildings for most of…»

Phoenix Leapfrogs Dallas as US Leader for Industrial Construction

Phoenix leads the country in industrial construction in early 2024, usurping the Dallas-Fort Worth region as the nation’s construction hot spot, a throne it has held since 2016. Both markets are contending with record supply additions over the past few years as renewed focus on domestic…»

Industrial Space Occupancy Thrives in Phoenix Despite National Decline

Despite national declines, Phoenix stands at the forefront of industrial space occupancy and demand, with a 3% increase in occupied space and the delivery of 16.5 million square feet of industrial product in Q3 2023, as highlighted in LGE Design Build’s newly released…»

Mesa Pinpoints City-Owned Property for ASU’s Downtown Expansion, ‘Next Leap’ for City

Aging city-owned properties in Mesa could end up being part of an expanding Arizona State University campus thanks to an updated agreement between the city and the school. The City Council has for years dreamed the university could anchor its arts and innovation district and bring…»