Commercial Real Estate & Business News – June 17, 2024

Gilbert ranks as the third best city to live in for safety and affordability in the U.S., according to a new study that looked at the safest and most affordable U.S. cities. Surprise ranked No. 25 on the list, Chandler was No. 34 and Mesa is ranked No. 44. Researchers at GOBankingRates analyzed…»

Nearly 300 acres in Laveen at the base of South Mountain are one step closer to an ambitious transformation. The city of Phoenix’s Economic Development and Housing Subcommittee on June 12 unanimously recommended that City Council approve a development agreement with…»

Rents rose for the fourth straight month, but gains were moderate, according to Yardi Matrix’s May National Multifamily Report. The average U.S. asking rent increased by $6 to $1,733, and the year-over-year growth was unchanged at 0.6%.The Northeast and Midwest continue to…»

It’s no secret that commercial real estate has been struggling the past few years. The sector is still reeling from the pandemic, which pushed more professionals to work from home and consumers to shop and dine at home. As a result, office vacancy rates reached a 30-year high around 18% in 2023, and…»

After taking a step back in 2023, U.S. real estate investors are once again gobbling up homes this year. Investors bought nearly one-fifth of the homes sold in the 2024 first quarter, Fortune reported. Although that’s down from the COVID-19 pandemic peak, it was the highest share in…»