Commercial Real Estate & Business News – May 9, 2023

CoStar: Multifamily May Outperform Expectations in Q2

It is looking possible that multifamily’s fundamentals in the second quarter will finish stronger than a year ago. It is even possible that the quarter overall may outperform expectations. This is according to CoStar Group, which is basing this premise on April’s rental numbers that are showing every sign…»

Monogram Health Leases Space in Prominent Tempe Town Lake Building

A Nashville, Tennessee-based health care firm found its new Valley office on Tempe Town Lake. Monogram Health inked a deal for a 25,000-square-foot space to take the entire third floor at Hayden Ferry Lakeside II, which is at 60 E. Rio Salado Parkway in Tempe and opened earlier this year. The kidney…»

Largest Real Estate Brokerages Brace for More Tough Months Ahead

Major commercial real estate brokerages say they are bracing for some tough months ahead before demand starts to improve later this year or early in 2024. The firms reported year-over-year revenue declines averaging about 40% to 50% in the first quarter amid concerns about the stability of the…»

Another Industrial Facility Breaks Ground in the Heart of the West Valley Market

Mohr Capital and Rosewood Property Company have kicked off construction on West Summit Logistics Park, in Surprise, Arizona. The logistics park will consist of two Class-A industrial buildings totaling 704,472 square feet across 46 acres of land. “Summit Business Park will sit in a prime location…»

Is Metro Phoenix’s Housing Market Slowdown Over? Here’s why it could be

Metro Phoenix’s housing market slowdown could be over, at least for now. Home sales and prices both climbed in March, according to the latest data. And housing analysts aren’t expecting either to have fallen in April. The Valley’s median home price is still down from…»