Commercial Real Estate & Business News – March 29, 2024

The Sweet 16 of US Retail Markets Square Off

As the country’s top men’s and women’s college basketball teams compete to cut down the nets this month, CoStar is getting in on the madness with our inaugural CoStar Sweet 16 of U.S. retail markets. Here we pit the top areas for that property type across the country against...»

Delinquent Multifamily Loans Are Becoming a Problem For Banks

Banks are starting to feel the effects of distress in the multifamily sector with the volume of multifamily loans that were at least 30 days past due or in nonaccrual status in the fourth quarter rising to $3.46 billion, up 43.1% from the previous quarter and an 81.2% increase year…»

Mott 32 Restaurant to Open at Paradise Valley’s $2B Ritz-Carlton Project

The Ritz-Carlton Paradise Valley and The Palmeraie — a multibillion-dollar project years in the works in Paradise Valley — are expected to take shape during the rest of 2024. Five Star Development, the developer of the mixed-use project with a hotel, retail and Ritz-Carlton-branded…»

Why is Family Dollar Closing Stores? Here’s What Arizona Shoppers Should Know

Dollar Tree will close 600 Family Dollar stores in the first half of 2024, the company announced on March 13. It would also allow 370 Family Dollar and 30 Dollar Tree stores to close once their lease is finished. There are 88 Family Dollar stores in Arizona, according to the company’s…»

CapRock Acquires Newly Built Industrial Park in Chandler, Arizona

CapRock Partners, a California-based privately owned investor and developer of industrial properties, has expanded its holdings in Phoenix by acquiring the four-property Chandler Airport Business Park for $42.57 million, or $133.57 per square foot. The Class A park was just…»