Commercial Real Estate & Business News – September 7, 2023

The U.S. Economy’s Slow Return to a 2% Norm

First half U.S. gross domestic product was a hair over 2%. Inflation expectations are nearly back to 2%. Job growth over last year? You guessed it. Why it matters: It may not last, but right now, it looks like we’re moving back toward the slow growth environment that preceded…»

Google Breaks Ground on First-Ever Arizona Facility

Google executives announced the company has broken ground on a new $600 million data center in Mesa’s tech corridor on Wednesday. The center will be the first physical presence of Google in the state. It will also use “state-of-the-art technology to air cool the…»

Changing Growing Cities One Urban Infill Project at a Time

Five cities in Arizona were recently listed among the 15 top fastest-growing cities in the U.S. – Queen Creek, Buckeye, Casa Grande, Maricopa, and Goodyear. As a result of rapid growth in metro Phoenix, the city launched an Adaptive Reuse Program, which is one of the most…»

Fundamentals Favor Multifamily

Depending on who you talk to (or where you get your information), multifamily is either a strong sector that’s going gangbusters or a sector that maturing loans could negatively impact. The Q2 2023 numbers also tell an interesting…»

Construction Spending to Rise in H2 2023

Rising interest rates and tighter lending standards have led to slower construction starts in recent months but the post-pandemic pipeline combined with strong infrastructure and nonbuilding demand are keeping the construction industry active in the second half of the year…»