Commercial Real Estate & Business News – March 31, 2022

Driven by demand from large cloud service providers, data center leasing activity in Phoenix set new records in 2021, according to a new report from CBRE. Phoenix had 29.8 megawatts (MW) of net absorption in 2021, which was…»
Office occupancy has continued to be a worry for investors, owners, operators, and even tenants who want workers back in the office. It has generally risen of late, with the first quarter showing higher rates and rents. But even then, there’s enough…»
A Phoenix developer has plans to redevelop a shuttered Phoenix elementary school into a light industrial project near 27th Avenue and Buckeye Road. Phoenix-based Merit Partners submitted plans to the city of Phoenix to raze and redevelop the…»
TUCSON, AZ – Western Wealth Capital has acquired a five-property, 880-unit multifamily portfolio in Tucson, AZ for $130 million. The firm acquired the portfolio from Weidner Apartment Homes. The portfolio, titled Tucson V, includes the…»
While the housing market appears steady for now, several indicators are shifting away from conditions that have led to robust price appreciation. Supply constraints are easing as we enter the spring home buying season, and rising mortgage rates are beginning to…»