Commercial Real Estate & Business News – May 11, 2023

Foreign Investors Have a Bigger Appetite for U.S. Commercial Property This Year

In years past, U.S. commercial real estate property owners could count on healthy inflows of capital from foreign investors eager to tap the country’s market fundamentals. Recently, those investments have dwindled and last year cross-border investment in…»

NRF: U.S. Economy ‘Remained in Gear’ During the First Quarter

The difficulties of taming inflation was evident in the first quarter as consumer spending grew 6.5% over the previous quarter. Slower-but-continued growth in gross domestic product and other economic indicators during the first quarter showed the difficulty of bringing inflation under control…»

Consumer Price Growth Falls to Below 5% for the First Time in Two Years

Consumer prices climbed 4.9% in April — the first time annual inflation has landed below 5% in two years. On a monthly basis, the inflation rate rose 0.4%, which was higher than the 0.1% in March. The latest report from the Bureau of Labor Statistics showed other favorable…»

Construction Starts on Massive West Summit Logistics Park in Surprise

“Summit Business Park will sit in a prime location in one of the best markets in the country,” said Bob Mohr, chairman of Mohr Capital. “The tenant demand Mohr Capital is seeing in Phoenix right now is among the strongest in the western United States. As such, we expect this project to…»

One in Three Office Buildings in Major North American Cities Could Be Ripe for Multifamily Conversion

A third of older office building stock in some of the largest cities across the United States and Canada are considered ripe for conversion into apartments, potentially providing one way to revive urban vibrancy in cities where workers haven’t fully returned…»