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Commercial Real Estate & Business News – November 15, 2023

‘Boutique’ Apartment Building Planned at Camelback Lakes Office Complex

An office building owner in the Camelback corridor is seeking to add a luxury apartment to its site, following a trend of adding infill development to increase a property’s uses. The office complex, called Camelback Lakes, is on 26th Street and Camelback Road and is proposing to develop a 75-unit…»

Are We There Yet? CRE Lending Shows Signs of Stabilization

A new CBRE analysis noticed signs that the real estate lending market has begun to stabilize. But don’t call for a round at the bar because the current state is not something to celebrate. “The CBRE Lending Momentum Index, which tracks the pace of CBRE-originated commercial loan closings in the…»

Team Behind $1B CrackerJax Redevelopment to Move Forward ‘As Soon As We Can’ After Approval

In front of a standing-room-only audience, Scottsdale City Council on Nov. 13 gave the thumbs up to one of the city’s most ambitious redevelopment projects. On a 5-2 vote, Council adopted an ordinance and two resolutions that will make way for The Parque — a $1 billion-plus mixed-use…»

Fender Could Hire 100 at New Co-Headquarters in Reimagined North Phoenix Mall

Hollywood-based Fender Musical Instruments Corp. is planning to leave its Scottsdale corporate co-headquarters for a new build-to-suit office campus at the former Paradise Valley Mall in Phoenix. Known as one of the world’s biggest guitar brands, Fender plans to move into a nearly…»

Inflation Slowed Faster Than Expected in October. Does That Mean Rate Hikes are Over?

After rising and then moving sideways in recent months, inflation emphatically resumed its descent in October. Consumer price increases eased more than expected as falling gasoline and used car prices offset another rise in rent and a rebound in health insurance costs. An underlying…»