Commercial Real Estate & Business News – January 9, 2023

Scottsdale Developer Rolls out Plans for $3.6B Master-Planned Community

Scottsdale-based El Dorado Holdings Inc. has plopped down $82.7 million for 4,150 acres of vacant land at a time when the economy has caused land deals to come to a screeching halt. Plans call for developing a master-planned community that will…»

Slowing Rent Growth Pressuring Apartment Financing, Operations

The recent move too stable and even falling rents in many markets is affecting multifamily investment and those who operate apartment buildings. Buyers could find challenges when working with their lenders, and given inflation now…»

US Job Market Slows a Little But Is Still Strong

Another month, another set of stronger than expected jobs numbers. Nonfarm payroll was up by 223,000 in December and unemployment dropped to 3.5%. And then, average weekly earnings in December hit $32.82, for 4.6% year-over-year growth…»

Full-Service Scottsdale Hotel Opens in Time for Super Bowl

The six-story Hilton at Cavasson features 237 guest rooms, resort-style amenities, and a 15,000 square-foot event center. The full-service property also boasts a top floor event space and terrace overlooking the McDowell Mountains. In addition Scottsdale’s newest resort will have…»

Homebuyers Now Have the Advantage in Metro Phoenix Market

Homebuyers in metro Phoenix are gaining some leverage heading into 2023, as Phoenix topped Knock’s list of the top five buyer’s markets for 2023 for the third month in a row. The Knock Buyer-Seller Market Index 2023 forecast released…»