Commercial Real Estate & Business News – September 19, 2024

The U.S. Federal Reserve said it is making a half-percentage-point cut to its benchmark interest rate, a long-awaited move that real estate investors hope will be a first meaningful step toward a recovery of property values, transaction volume and development activity. The formal…»

Phoenix’s most iconic mall — Metrocenter Mall — is on its way to becoming the largest mall redevelopment project in Arizona’s history. Concord Wilshire Capitaland TLG Investment Partners(Developer) announced today that (i) the Abatement and Demolition of the…»

“We are excited to acquire 236 and 240 North 48th Avenue, a strategically located property in the Southwest Phoenix submarket where demand for modern and efficient industrial warehouse space remains strong,” said Morgan Hill, Vice President at Stos Partners. “This acquisition allows us to…»

A spate of retail bankruptcies has opened up vacancy in shopping centers and malls across America. In some markets and centers, a retailer’s store closures have been backfilled quickly and at a higher lease rate than what the previous occupant was paying. But in other places, a less positive story may…»

The Federal Reserve’s decision to lower its interest rate by 50 basis points came as surprisingly aggressive but still welcome news to U.S. hoteliers. When announcing the cut, the Fed’s Federal Open Market Committee said in a statement that…»