Commercial Real Estate & Business News – October 3, 2023

More decision-makers at the Federal Reserve and on Wall Street are coming around to the view that the U.S. economy can avoid a crash—or at least have a kinder, gentler recession than they once predicted. Economists at Deutsche Bank issued a revised outlook for the economy Monday, toning down…»

Due to the high levels of occupancy in the retail sector and its undersupply of new development, current owners and investors are poised to capitalize upon the sector’s strong fundamentals and long-term rent growth, JLL says. Net absorption increased 12.6% quarter-over-quarter up…»

The final subdivision plat for a rare Tempe industrial park has received city council approval. Tempe City Council voted in favor of Overton Moore Properties’ new three-building, 690,000-square-foot spec industrial park at 1480 N. McClintock Drive — the site of the former Big Surf Wave Park and the Inland Oceans…»

Pickleball is the hottest sport in the country right now — often to the chagrin of tennis players vying for court space and neighbors with sensitive ears. The Show’s Nick Sanchez just might have found a solution. On a recent Sunday afternoon at Arizona Mills Mall in Tempe, patrons are shopping…»

Wall Street investment firm Goldman Sachs predicted metro Phoenix home prices would plummet 25% this year. It was wrong. The Phoenix-area median home price was $412,000 in early January when Goldman made the prediction. The median is now about $430,000. That’s a more than 4% increase…»