Commercial Real Estate & Business News March 28, 2019

CMBS Delinquency Rate Falls Below 3.00 Percent in February
The 30+ day CMBS delinquency rate fell below 3.00 percent in February, as market observers previously predicted. Research firm Trepp reports that the delinquency rate for all property types fell 15 basis points month-over-month to 2.87 percent. The figure was 164 percent lower than the 30+ day CMBS delinquency rate recorded in…»
Newly Renovated Arizona Center Adds Tenants, Will Break Ground on New Hotel
Arizona Center, Phoenix’s original downtown entertainment destination located at 3rd Street and Van Buren, recently completed construction on its $25 million makeover, which includes new creative office space, outdoor work stations, shopping, entertainment and casual dining. Complementing the new modern aesthetics is a new…»
Here’s How Much Tech-Related Employment is Growing in Arizona
Tech-related employment in Arizona increased by more than 5,100 new jobs in 2018 and the tech sector raised its contribution to the state’s economy, according to Cyberstates 2019, the definitive guide to national, state and metropolitan area tech sector and tech workforce analytics published annually by CompTIA, the leading…»
Coworking Giant Chooses Downtown Phoenix Space
WeWork, the New York City-based coworking giant, will take up four floors in the 101 North building on First Avenue and Adams Street. It’s the company’s third location announced in the Valley. WeWork will take up the eighth, 28th, 29th and 31st floors in the downtown high-rise. The space is planned to accommodate roughly…»
Private Equity Real Estate Investors Remain Wary of Opportunity Zones
Private equity real estate investors remain reluctant to jump into Opportunity Zone plays, according to the latest research from London-based firm Preqin, which attributed the attitude to uncertainty surrounding program regulations and the inherent risk of investing in low-income and distressed neighborhoods. Based on a survey conducted…»