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Commercial Real Estate & Business News – March 15, 2024

9 Big Phoenix Retail Developments After 15 Years of Nothing

After years of dormancy following the 2008 financial crisis and a pandemic thrown in for good measure, retail development has returned to the Phoenix metro in a big way. The metro had 2.2 million square feet of retail space under construction entering 2024 and an additional 3.6 million…»

Apartment Rents Rise Nationally for First Time in Seven Months

Asking rents for apartments posted their first nationwide increase in more than seven months in February, Yardi Matrix said Wednesday. The average U.S. asking rent rose $1 to $1,713 in February, up 0.6% year-over-year, while occupancy decreased 60 basis points Y-O-Y to 94.5% as of January…»

Freddie Mac Multifamily Investment Index Sees Q4 Decline Despite Yearly Growth

Despite a fourth quarter dip, the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) was up for 2023, indicating that investment conditions were better in the fourth quarter compared with the prior year. For the fourth quarter, the AIMI fell nationally and in all 25 markets…»

Scottsdale Build-to-Rent Developer Opens New Community, Plans More

Scottsdale-based TerraLane Communities has opened a 297-unit rental community in Goodyear, next to another community it had built and sold in 2022. TerraLane at Canyon Trails South, at 25 N. 173rd Ave., is immediately south of TerraLane at Canyon Trails. Phoenix-based…»

Arizona No. 5 in Nation with 15 Award-Winning Senior Living Facilities

Seniorly today released the Best of Senior Living Awards 2024 and identified the 334 best facilities in America. Arizona ranks No. 5 in the nation with 15 award-winning senior living facilities including the No. 6 best facility in the nation — Acoya Troon in Scottsdale, AZ. California led…»