Commercial Real Estate & Business News – October 2, 2024

Even though 8.3% more permits were granted for multifamily construction in August compared to July this year, viewing on an annual basis the rate of permitting dropped 16.8% in all U.S. census regions. That came even as…»

Buyers and sellers in US commercial real estate are increasingly convinced that the beleaguered market is reaching a bottom. But the big question remains: At what price will beaten-down offices, apartments and other properties actually change hands? Signs abound that there will soon…»

Two new Big Lots locations in Arizona are closing, joining a list of 21 stores across the state that have either closed or were in the process of closing. Since July, Big Lots has announced that it will close hundreds of stores nationwide as it files for bankruptcy. The retailer has…»

Fender Musical Instruments Corp. is expected to be rocking in its new Arizona office next fall. Fender broke ground Sept. 30 on a 77,000-square-foot, three-story build-to-suit office at PV, a more than 100-acre, $2 billion redevelopment of the former Paradise Valley Mall led by…»

The single-tenant industrial market was the only sector to report an increase in sales volume from first to second quarter 2024. Despite the 17 percent uptick, transaction activity is still comparatively low to totals seen in the last few years. With $4.95 billion closed in the last three…»