Commercial Real Estate & Business News – May 31, 2024

Debt Originations May Have Bottomed

CRE debt organization has continued to slow but has reached a virtually flat position, according to Newmark’s 1Q24 State of the U.S. Capital Markets. Origination volumes were down only 2% year over year in the first quarter of 2024 — still a drop but a significant improvement...»

Mack Real Estate Wins Auction for 2,300-Acre Development Site in Phoenix’s Booming North Valley

Mack Real Estate Group was the winning bidder for the development rights to over 2,300 acres adjacent to Taiwan Semiconductor Manufacturing Corp.’s semiconductor fabrication campus in Phoenix’s North Valley. The auction win is one of the most noteworthy signs yet…»

7 New Tenants Coming to PV; 1st Phase of Retail Nearly 100% Leased

RED Development today announced the first phase of retail is nearing 100% leased at PV, the highly anticipated redevelopment of the former Paradise Valley Mall, ahead of its grand opening this fall with the addition of seven new tenants, including first-to-market restaurants…»

VanTrust Breaks Ground on VT 101 Industrial Park in Glendale

VanTrust held a ceremonial groundbreaking event for Phase I of the 48-acre VT 101 industrial park, which will consist of three buildings totaling 750,000 square feet. Elected officials, City staff and the project team gathered to celebrate the occasion. VT 101 is located along Loop 101…»

Target, Harkins & Safeway: This West Valley City Could Get a New Shopping Center

Verrado has proven to be a hotspot for development in Buckeye, with one particular intersection standing out, and now plans for more retail are taking shape there. A Costco opened up last summer at the southeast corner of Interstate 10 and Verrado Way. A new Abrazo Health…»