Commercial Real Estate & Business News – November 18, 2022

Mortgage Demand Rose on the Back of Slower Inflation Growth

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed. The market composite index, a measure of…»

Developers Get Final Approval Needed to Redevelop Metrocenter Mall in Phoenix

The final approval needed for the Metrocenter Mall to be redeveloped was passed by Phoenix City Council on Wednesday afternoon. The city approved another agreement with the developers of the mall in a 6-2 vote for a planned…»

Industrial Occupiers Plan on Needing More Space in Next Few Years

Industrial demand is expected to maintain a healthy pace, though likely not at the record set in 2021, according to CBRE’s Industrial Occupier Survey. Of the 100 U.S.-based respondents, 64% overall and 81% of third-party logistics companies plan to…»

Retail Sales Up in October as Consumers Keep Spending

American shoppers didn’t let inflation put too much of a dent in their spending in October, with many getting a jump start on the holiday season. Core retail sales inched up 0.7% in October from September and up 6.5% year-over-year, according to the…»

Why Development of Medical Office Buildings is Booming

Maricopa County, the state’s largest by population and home to the capital, has long been a destination for those looking to escape frigid winters in search of sunnier climes. An increase in the number of residents drives higher demand for…»