Commercial Real Estate & Business News – September 14, 2022

Phoenix Leads Data Center Markets in New Demand

Phoenix is the hottest data center market in the US, measured in megawatts of net absorption, as overall US market absorption surges past the total demand in 2021, according to the latest Data Center Outlook report from JLL. US market demand reached…»

Glendale Rezones High-Profile 188 Acres for Mixed Use Development


As a result of a multi-year public private collaborative effort, the Glendale City Council recently voted to approve the rezoning of 188 acres for mixed use development. This zoning action is extraordinary as the largest strategically positioned mixed use…»

Multifamily Rent Growth Stalls in August

National average asking rents stopped growing last month, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rent decreased by $1 in August—the first month-over-month decline since June 2020—to $1,718. For the second month…»

Expect Another 75bp Fed Rate Hike (at Least), Thanks to Inflation

With oil prices dropping, moderating the heavy influence energy has had on the economy, experts thought that inflation would drop. It didn’t. It got worse.Not by a huge amount in one sense—the increase was 0.1 percentage points. But it was enough of a shock, given…»

E. Mesa Sears Site Could House 254 Apartments

The owner of the now-shuttered Sears department store at Superstition Springs Center mall in east Mesa is proposing to knock the building down for 254 garden-style apartment units spread across seven three-story buildings. Seritage Growth Properties, which.…»