Commercial Real Estate & Business News – October 20, 2020

Rents Still Rising in Metro Phoenix as They Drop in Pricier U.S. Cities
As apartment rents drop in many big U.S. cities from San Francisco to Chicago and New York, monthly payments keep rising for metro Phoenix tenants. Valley rents climbed faster during the past year than almost anywhere else in the U.S. Ten of thousands of new upscale apartments charging well above…»
Affordable Housing Project Breaks Ground in Downtown Phoenix Opportunity Zone
Pacific Oak Capital Advisers and Defer Gain broke ground on the St. Ambrose housing development located at the southwest corner of 12th St. and Van Buren St. in Phoenix on October 14 at 1155 E. Van Buren St. The one-of-a-kind project located in a downtown Phoenix Opportunity Zone is expected…»
Retail Leasing Activity Picking Up in Phoenix Metro but Hurdles Remain Amid Pandemic
It has been a rough year for the Valley’s retail real estate market, and while things have started to improve, it could be a long time before conditions return to pre-pandemic levels. After hitting a decade low during the second quarter of 2020, leasing activity for retail spaces in Phoenix started…»
Tenants Offload Unused Office Space in Phoenix While Vacancies Increase
Phoenix’s office fundamentals have softened due to the virus, but the market is still faring better than most other major office markets in the country. Phoenix is one of a few markets that has recorded positive net absorption, the difference between move-ins and move-outs, over the past 12 months,…»
Institutional Investors Are Still Net Buyers
The pandemic has undoubtedly slowed commercial real estate investment sales activity, but one investment group is standing apart from the rest. During the second and third quarters, institutional investors have remained net buyers, despite the uncertainty brought on by the pandemic. In fact, according…»