Commercial Real Estate & Business News – October 19, 2023

There’s been a big shift in commercial real estate lending. “According to the Federal Reserve, in August large domestic banks saw their aggregate loan balances tighten for the first time since January 2022, and their loan balances have declined further over the first two weeks of September,” wrote…»

LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Company (LPC), has joined with Maricopa County Board of Supervisors Chairman Clint Hickman, project partners and VIP guests to celebrate the groundbreaking of Luke Field, a $515 million, 2.4 million-square-foot Class A industrial…»

Considerations for severe weather and climate, in general, have real estate developers putting more focus on how they build and operate. But add to that rising insurance rates, which have dealt a big blow to budgets as premiums continue to climb, especially in some Sun Belt markets. Breana Wheeler…»

The number of cranes in downtown Phoenix has remained mostly steady throughout 2023 with the latest count totaling seven cranes in the third quarter. This is a slight decrease from nine cranes in the first quarter of 2023 and is a result of several projects being completed including two major…»

Dominium, one of the nation’s leading owners, developers and managers of affordable housing, is holding the grand opening of Vista Ridge, 308 units of affordable housing for working families in South Phoenix on October 24 and breaking ground on 657 units of both family and senior affordable housing…»