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Commercial Real Estate & Business News – May 8, 2024

Top 5 Metros for Industrial Deliveries

In 2023, a few top metros for industrial deliveries emerged as the sector further displayed resilience and adaptability, fueled by the reshoring and nearshoring of manufacturing, increased construction spending and the lasting impact of e-commerce. These trends signaled a strategic...»

New Jersey Homebuilder Eyes Scottsdale Parcel Currently Zoned for Office

New Jersey-based Hovnanian Enterprises Inc. (NYSE: HOV) has filed a zoning request with the city of Scottsdale for a parcel of land that once was home to Rawhide Western Town and Steakhouse. After Rawhide moved to the Gila River Indian Community south of Chandler in…»

Vestar to Break Ground on Phase 2 of Vineyard Towne Center in Metro Phoenix

Vestar has announced plans to break ground this month on Phase 2 of construction at Vineyard Towne Center in Queen Creek, roughly 40 miles outside Phoenix. Upon completion, Vineyard Towne Center will comprise 260,000 square feet. Tenants at Phase 2, which is fully…»

Apartment Occupancy Posts First Monthly Increase Since Early 2022

The national average for apartment occupancy ticked up month-over-month to stand at 94.2% in April 2024, RealPage Market Analytics said Friday. Marking the first monthly increase since February 2022, the April average is a “mild” 10 basis points above March’s reading, according…»

Renters’ Hopes of Being Able to Buy a Home Have Fallen to a Record Low, New York Fed Survey Shows

The dream of home ownership has gotten even further away for renters, with higher housing costs and elevated interest rates standing in the way of the American housing dream, according to a New York Federal Reserve survey released Monday. The share of renters as…»