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Commercial Real Estate & Business News – November 20, 2023

Specially Serviced Assets Keep Sliding in Value

After a tough first half of the year for valuations, particularly among specially serviced properties, the third quarter of 2023 continued apace, according to a new report from CRED IQ. As a reminder, the first half of 2023 was bad. CRED iQ reviewed 190 appraisals of major properties across all assets…»

Parts Town Plans to Open Major Distribution Center in West Valley

Addison, Illinois-based equipment and parts distributor Parts Town Unlimited is planning to open a large distribution center in metro Phoenix — its first facility in Arizona and the Southwest. Parts Town will occupy all of a 420,536-square-foot warehouse in Glendale at the C|303…»

NRF: Thanksgiving Holiday Weekend Shoppers to Set New Record

The search for deals is expected to drive a record number of consumers to shop over the Thanksgiving holiday weekend. An estimated 182 million people are expected to shop during the Thanksgiving holiday weekend, an increase of nearly 16 million compared to last year, according to…»

PTK Spotlight: Arizona Multifamily Brokers to Know in 2024

Every year, AZ Big Media, which publishes both PTK and AZRE magazines selects Arizona’s top people and projects to showcase in its premier commercial real estate magazine — PTK — from an impressive and competitive nomination pool. Each day we will highlight 20 different categories…»

Park Central Revitalization Continues with Flurry of Activity

A flurry of activity is taking place as part of the revitalization of Park Central in Phoenix as the project’s momentum continues to build as its redevelopment continues. Several key milestones have occurred recently at the midtown Phoenix property, including new tenants, new restaurants…»