Commercial Real Estate & Business News – March 29, 2023

High-Profile Phoenix Luxury Hotel Sells for Hefty $110 Million

The Camby Hotel, located on the corner of 24th Street and Camelback Road in Phoenix, traded hands earlier this month and was one of the highest-priced hotel transactions in the past year. The property, which was known as…»

First Complex to Use Affordable Housing Tax Credit Breaks Ground in Glendale

Construction is underway on an affordable housing complex funded in part by a state low-income housing tax credit and lauded by state and local officials who gathered at the building site Friday. Gorman and Co. — one of the nation’s…»

Metro Phoenix’s Median Home Price Poised to Climb $12,000 in March

Metro Phoenix’s median home price is expected to climb almost $12,000 in March after dropping most of the past six months. Home sales jumped in February and are on track to increase again in March. Both are indicators that…»

Semiconductor Boom Continues to Boost CRE

Attracting ongoing widespread government and private sector investment, semiconductor fabrication plants and manufacturing facilities have become one of the largest contributors to industrial real estate development and related investment…»

7 Unique Restaurant Trends We’re Seeing in 2023

The restaurant industry underwent a major transformation during the pandemic as COVID-19 changed the way businesses operated. People’s dining preferences also changed significantly and new trends emerged in the market. Customers…»