Commercial Real Estate & Business News October 11, 2019

Arizona Burnishes National Tech Cachet As Global Hotel Chain Expands Business Hospitality chain Choice Hotels International plans to almost double the presence of its technology division in greater Phoenix, becoming the latest tech operation to expand in the biggest city in a state that’s a national leader in surging technology growth. The technology division of Choice Hotels, which produces the company’s online…»Freddie, Fannie Offer More Competitive Loan Terms After Re-Set Lending Caps
Freddie Mac and Fannie Mae lenders are once again fighting hard to make deals. “Agency lenders are now beating banks and life companies-when they want the loans, they are beating them,” says Richard Katzenstein, senior vice president and national director with Marcus & Millichap Capital Corp. in the firm’s New York City…»

Phoenix Nears 14-year Record for Office Space Absorption
The Phoenix office market has already absorbed more than 3.07 million square feet of office space in 2019. According to the Q3 Office Insight report just released by the Phoenix office of JLL, that is a three-quarter absorption rate record for the Valley, topping the last high water mark of 2.9 million square feet of space absorbed during the first…»

The Larger Ramifications of WeWork’s Problems
The WeWork (We) saga is casting a shadow over all corners of the globe, and its problems are landing squarely on the foundations of commercial real estate. Investors, especially landlords and CRE investors, are on their heels as they finally pull back the curtain on We and discover whether a wizard had been at work. There is a distinct…»

Multifamily Developers Zero In on Downtown Phoenix
The revitalization of Downtown has brought an influx of young professionals seeking a live/work/play lifestyle that the Phoenix submarket now offers. And multifamily developers are responding. As discussed in the accompanying video, Downtown has the most apartment units underway of any submarket in the Phoenix metropolitan area. More than…»