Billion-Dollar CrackerJax Redevelopment Project Gets Approval The next billion-dollar development project in north Scottsdale took another step toward reality on Wednesday. A rezoning for The Parque — a mixed-use development at the site of the former CrackerJax amusement park — was recommended … [Read more...] about Commercial Real Estate & Business News – September 29, 2023

Will the Fed Raise Interest Rates One More Time This Year? Consumers and investors were spared from a 12th rate hike when Federal Reserve officials voted to keep their benchmark borrowing rate steady at their September meeting. Don’t take the pause as an indication that officials are ready to … [Read more...] about Commercial Real Estate & Business News – September 28, 2023

Multifamily Weighs In on Another Rate Pause The Federal Reserve and the Federal Open Markets Committee paused interest rates today. For at least the time being, the federal funds rate will remain at a range of 5.25 percent to 5.5 percent. In June, after 10 consecutive hikes, the committee took … [Read more...] about Commercial Real Estate & Business News – September 27, 2023

How Verrado Became a California Oasis in the Middle of the Desert Buckeye is one of the fastest-growing cities in the country. Its population boomed from about 50,000 in 2010 to just over 105,000 and could grow even more to 310,000 by 2040. And once all 27 of Buckeye's master planned communities … [Read more...] about Commercial Real Estate & Business News – September 26, 2023

Retail Can’t Shake Perception of Being Oversupplied After hitting 56.5 square feet of retail space per capita in early 2009, the high-water mark for shopping center space in the U.S. that coincided with an onslaught of retail space additions, the amount of retail space per capita within the … [Read more...] about Commercial Real Estate & Business News – September 25, 2023

Phoenix, SLC & Vegas Lead the Western US in Industrial GrowthPhoenix, Las Vegas and Salt Lake City all recorded double-digit annual rent increases in the 12-month period ending in the second quarter, making them some of the strongest-performing industrial markets in the United States. These … [Read more...] about Commercial Real Estate & Business News – September 22, 2023