Commercial Real Estate & Business News – October 4, 2024

Luxury apartments are benefitting from challenging homeownership trends that appear to be prompting many higher-income households to rent luxury apartments instead of transitioning to first-time home ownership. According to Marcus & Millichap’s September housing research…»

The Apartment Investment Market Index, a measure of nationwide financing conditions created by lending giant Freddie Mac, has grown on a yearly basis in four straight quarters for the first time since 2021 as investors expect more certainty in interest rates and construction. The index, a combination of multifamily…»

Closeout retailer Big Lots has significantly expanded the number of stores it plans to shut to roughly 450 locations, as part of one of the bankruptcy proceedings that is throwing millions of square feet of retail space onto the U.S. market. The Columbus, Ohio-based company…»

Whole Foods Market’s footprint in the Phoenix area is set to shift this month. The company said that on Oct. 16, it will open a 50,358-square-foot new store at PV, the name chosen for the more than 100-acre, $2 billion redevelopment of the former Paradise Valley Mall. The new store’s address will be…»

Long known for industrial investments in metro Phoenix, Denver-based Sagard Real Estate is making its initial foray into the Phoenix multifamily sector with the purchase of a 209-unit apartment community in Tempe. Closing on Sept. 30, Sagard Real Estate paid $77.33 million in…»