Apartment Rent Increases Decelerate, Analysis Shows Average apartment rent increased by $10 last month, their lowest rate since January, according to the latest Yardi® Matrix Multifamily Report. The average rent in the U.S. was a record $1,717 in July.Year-over-year growth decelerated … [Read more...] about Commercial Real Estate & Business News – August 11, 2022

Developer Proposes Mixed-Use Project for Litchfield Park's new Civic Center A project with new retail, restaurants and offices is being proposed as the first of several commercial developments planned for Litchfield Park's new city center in the West Valley. The new project will be called … [Read more...] about Commercial Real Estate & Business News – August 10, 2022

Phoenix High-Rise Trades for $94 Million as Investors Renew Interest in Downtown Apartments A Colorado multifamily investment firm paid $93.5 million to buy the tallest apartment tower in downtown Phoenix, a once-sleepy district that has come back into vogue for renters over the last decade. … [Read more...] about Commercial Real Estate & Business News – August 9, 2022

Phoenix Eyes Future Intersection for Commercial Development, Revitalization of Rio Salado The city of Phoenix is eyeing a future freeway interchange for commercial development near the Loop 202 as part of its efforts to help revitalize dozens of miles along the Salt and Gila rivers. The 85-acre … [Read more...] about Commercial Real Estate & Business News – August 8, 2022

Arizona Ranks No. 3 Among States Gaining Most High-Earning Families Households that make over $200,000 annually comprise just a sliver of all tax returns that are filed in a given year, but their movement between states can have a significant financial impact. When a state loses … [Read more...] about Commercial Real Estate & Business News – August 5, 2022

Thousands of Apartments, Rentals on Tap for Laveen as Residents Demand Sustainable Growth The Laveen community in southwest Phoenix has seen thousands of residential rooftops under construction for years, with houses replacing farms in the once agricultural area of the city. But as the area … [Read more...] about Commercial Real Estate & Business News – August 4, 2022