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Commercial Real Estate & Business News – May 22, 2024

High-Rise Apartment Proposed at Former Tempe College Bar Site

A high-rise student housing tower proposed on the site of a shuttered, formerly popular college bar in Tempe could face an uphill battle for approval after an icy reception from a city commission. Landmark Properties, a Georgia-based real estate firm that specializes in off-campus...»

Edison Midtown Complete After $25M Investment From Developer

Tannin Development Corp. announced the completion of Edison Midtown, a luxury condo community at 3131 N. Central Ave in Phoenix. The final phase marks the completion of the 110-unit community, which had been stalled for six years due to the original developer’s inability to…»

Retail’s Fundamental Disconnect

The big thing right now is there’s a massive disconnect between the fundamentals of the retailers and the leasing fundamentals in the shopping centers, and the level of disruption and disconnect in the capital markets. Those thoughts are according to Adam Ifshin, CEO and founder…»

Three Types of Businesses Largely Drive Retail Demand Resurgence

You wouldn’t know it from headlines focusing on recent store closings, but the overall U.S. retail sector has undergone a resurgence in the past couple of years, with vacancy rates declining and rents rising to record highs. Three drivers are supporting the revival. There’s been a…»

WeWork Expects to Retain Lease at Esplanade in Phoenix’s Biltmore Area

WeWork Inc. plans to keep its office lease at the Esplanade. As part of its plans to emerge from bankruptcy by May 31, the New York City-based coworking company said Monday it expects to assume 89 additional leases across the United States and Canada – including at…»