Commercial Real Estate & Business News – September 10, 2024

Closeout retailer Big Lots has struck a deal to be acquired by private equity firm Nexus Capital Management for $620 million as part of its bankruptcy proceeding and plans to move forward with a store footprint that’s “more focused.” The Columbus, Ohio-based buyer oft…»

While positive economic indicators have attracted the attention of investor interest in the Arizona apartment market, they’re proceeding with caution. That’s because new supply is creating a softness in some submarkets, said Adam Finkel, co-founder and managing partner of…»

The fate of the iconic Heard Building, the first high-rise built in downtown Phoenix, is up in the air as the office sector continues to struggle following the Covid-19 pandemic. The owner of the Heard Building, an entity connected to national coworking operator…»

Commercial real estate debt delinquency rates continue to rise with the office sector playing a particularly strong role as its constituents work through bank portfolios, says S&P Global. The overall delinquency ratio for those loans increased quarter-over-quarter 16-basis points to 1.450%. That came from…»

In the first half of 2024, the Phoenix market saw 126MW of absorption, further solidifying its position in the elite rank of gigawatt-plus markets. Despite a slight slowdown in absorption due to supply constraints, the demand remains robust with tight vacancy at 1.3%. As interest in the…»