Commercial Real Estate & Business News – May 5, 2023

Maybe it hasn’t been as bad as it seems. An analysis by JP Morgan Chase shows that commercial real estate has remained resilient in the first half of 2023 and many of these categories have the wherewithal to continue to withstand recessionary and other headwinds. To be sure,…»

Growth in consumer expenditures outweighed a contraction in private investment that was driven by a slowdown in inventory accumulation, helping the real gross domestic product grow by 1.1% annualized for the first three months of the year, according to the Bureau of…»

GCON Inc., an Arizona-based, full-service construction management firm, is putting the finishing touches on a first-of-its-kind project in Arizona. Town Deer Valley, a 388-unit luxury multifamily development, is the first project in Arizona for the Related Group, one of the leading…»

Apartment rents rose 1.7% in April, which is the lowest increase since March 2021 and falls below the average rate of 2.8% for 2018 to 2019, according to Apartment List’s monthly report. Month over month, national rents increased by 0.5%. Growth continues its deceleration, in other…»

Prime, a global developer and operator of data centers, has announced plans for a $2 billion data center campus in Avondale, roughly 20 miles outside Phoenix. The development will include five data center buildings spanning 1.3 million square feet, generating a total of 210 megawatts of…»