Commercial Real Estate & Business News – January 31, 2023

2023 Unlikely to Bring a Large Wave of CRE Distress, Predicts Walker & Dunlop Exec

Commercial real estate investment sales have already been trending down for some time, with higher interest rates creating uncertainty about the future direction of property values. In the fourth quarter of 2022, overall investment sales volume…»

Are Industrial Construction Costs Moderating?

Although the industrial product type has consistently been the bright spot in the CRE world over the past couple of years, issues around construction and materials remain a source of headwinds in the new year, according to a new report from…»

First Phase of South Pier at Tempe Town Lake Mixed-Use Project Breaks Ground

The skyline across the Tempe Town Lake waterfront will see new additions in the coming years. South Pier Tempe Holdings LLC, an entity of Washington state-based McBride-Cohen Management, recently broke ground on the first phase of…»

Prominent Scottsdale-Area Office Buildings to Undergo $29 Million Renovation

The new owners of two adjacent north Scottsdale office buildings want to reimagine the assets as one “experiential office campus.” With that in mind, Dallas-based Vero 2AR plans to pump $29 million into Kierland One and Kierland Two for…»

Latinos Contributed $65 Billion to the Phoenix-Area Economy

Latinos contributed at least $65.1 billion to the Phoenix-area economy, according to a new report measuring the gross domestic product of the region’s fastest growing demographic group. That is higher than the entire economies of…»