Commercial Real Estate & Business News November 5, 2019

CoStar Economy: A Pause in Rate Cuts Rests on the Backs of Consumers We’ve spent a lot of time over the years, too much time perhaps, parsing Federal Reserve statements after every meeting for insights into the Open Market Committee’s thinking and what that may mean for the future of policy. Why? Not because it’s fun! The main reason is that forward guidance is as much a part of monetary…»
For $25, Arizona Home Buyers Can Help Solve the State’s Affordable Housing Problem
For $25, Arizona homebuyers can help put a roof over the heads of people who can’t find a home they can afford.Rapidly rising rents in metro Phoenix are putting the squeeze on a record number of residents, and the Valley doesn’t have enough affordable housing for the growing number of people becoming homeless. To help the many…»
Developer Ready to Start Work on $40M Tempe Town Lake Office Building
Irgens plans to break ground in the first quarter of next year on its office building on the north side of Tempe Town Lake, called 999 Playa. The building will add 94,000 square feet of Class A office space to the Valley’s hottest office market. The project will be built podium style, with ground floor offices, two levels of parking, then an…»
Student Housing Build Opens in Phoenix
NOVO Development completes a new project near Ottawa University’s OUAZ campus in Surprise, Arizona, a suburb of Phoenix. The student-focused project was designed to accommodate significant enrollment expansion at the university.Located at 14360 W. Tierra Buena Ln.,…»
Some WeWork Landlords May Be Left Holding the Bag if WeWork Decides to Exit Their Buildings
Troubled co-working operator WeWork has structured some leases under LLCs that are not guaranteed by its holding company, which will leave those landlords holding the bag for the free rent and TIs they provided to help get the spaces up and running. The landlords will also be left with vacant spaces, which may be backfilled with former…»