Commercial Real Estate & Business News – November 3, 2022

Report: Third of CMBS Showed Negative Leverage in Q3

A new report from Moody’s Analytics CRE signals an ominous inflection point for commercial real estate: nearly a third of new CMBS issuance was afflicted with negative leverage in the third quarter as interest rates surged. According to Moody’s, about…»

Phoenix Industrial Market Posting Robust Demand, Rent Increases

The Phoenix industrial real estate market, already one of the strongest in the U.S., closed a very robust Q3 2022, as rent rates continued to increase, more space was added to the construction pipeline, and vacancy remained low, according to new research…»

Developer Plans Expansion of New West Valley Shopping Center Next to Planned furniture Store

Scottsdale-based SimonCRE is planning a major expansion of its Prasada development with approximately 350,000 square feet of additional retail and restaurant space in the Phoenix metro. The new $100 million shopping center, called…»

Large Property Adjacent to North Phoenix Outdoor Mall Sells for $44 Million

Garden Deer Valley LLC, an entity connected to a national developer with ties to the Minnesota Vikings, was the sole bidder and winner of about 41 acres of state land in an auction on Tuesday morning. The residential developer, New Jersey-based…»

Cheesecake Factory Targets Suburbs for Restaurant Expansion

Cheesecake Factory is looking to turn rising foot traffic into 7% annual location growth, with up to 24 restaurant openings planned for 2023 following at least 13 expected to debut by the end of this year. The Calabasas, California-based operator of more than…»