Commercial Real Estate & Business News – October 4, 2021

On September 23, more than 300 professionals gathered for an in-person and live-stream glimpse into the 2022 economy. Sponsored by SRP, this dynamic event featured a provocative and insightful presentation by Andrew Busch, Economic Futurist, BPI, and a lively panel discussion with three of Arizona’s thought-leaders…»
Current data issued this week by Cushman & Wakefield suggests that most of the world will achieve herd resiliency—i.e., over 70% either vaccinated or infected—by Q2 2022 and that current trends suggest most office workers globally will be able to return to the office in the first quarter of 2022.Cushman & Wakefield reported that…»
A proposed major renovation to an office building at the corner of Indian School and Scottsdale roads is aiming to create a “best-in-class” office building and revive interest in a space that is mostly vacant.The building, at 4141 N. Scottsdale Road, includes 156,000 square feet of office space, but is only about 20% leased. A proposed…»
The return of consumers to shopping centers with the recovery is cited as a probable factor by JLL in the closure of the least amount of retail space and bankruptcy of retailers in years.The US is on pace to see 87 million square feet of retail space impacted by closures—which would be the least amount of space since 2016 and nearly…»
Build-to-rent communities are quickly becoming the most sought-after new asset class. According to Noam Franklin, a founder of Berkadia’s JV Equity & Structured Capital group, investment capital is pivoting from multifamily to build-to-rent investments in response to surging demand.“Capital sources such as private equity funds have recognized the…»