Commercial Real Estate & Business News – September 3, 2021
Across the top 30 markets CommercialEdge surveyed for its newest report, asking rents for industrial space averaged $6.31 per square foot in July and Phoenix led the nation with 24 million square feet of industrial space under construction.The highest average rent increases were recorded in port markets, with Southern California in the…» Pandemic’s Downtown Apartment […]
Commercial Real Estate & Business News – September 2, 2021
Kush: Scottsdale Needs to Make Inclusionary Housing Decisions In an article published by the Wall Street Journal less than two months ago, the WSJ said that the United States is millions of housing units behind current demand.In Arizona, this translates to a pre-pandemic need of 230,000 new units — roughly 50,600 in Scottsdale…» Phoenix Leads […]
Commercial Real Estate & Business News – September 1, 2021
How Does Arizona’s Economic Recovery Really Look? Unusual Markers Paint a Unique Picture Arizona’s economy has nearly recovered all of the jobs lost to the COVID-19 pandemic, significantly outpacing the national average.But that recovery is uneven: Some industries, like travel and tourism, remain far below where they were prior to the new coronavirus sweeping the […]
Commercial Real Estate & Business News – August 31, 2021
KBRA: CMBS Delinquencies Have Ebbed for 14 Consecutive Months Kroll Bond Rating Agency (KBRA) said the CMBS delinquency rate slipped 30 basis points to 4.6% from a month earlier. This is the 14th consecutive month where the rate has declined or was flat from the previous month since peaking in June 2020 at 8.2%, said […]
Commercial Real Estate & Business News – August 30, 2021
Clayco Breaks Ground on 26-story Skye on 6th in Downtown Phoenix Today national design-build firm Clayco, along with representatives from Hubbard Street Group, Shepley Bulfinch, local politicians and community groups celebrated the groundbreaking of a new 26-story residential tower, Skye on 6th, in downtown Phoenix’s Roosevelt Row…» 1.5 Million-square-foot Industrial Project Proposed for 100 Acres […]
Commercial Real Estate & Business News – August 27, 2021
Downtown Apartment Complex: The Grid …or Gridlock? The Grid seems more like “the gridlock.”Tribune readers asked about the sudden work stoppage on a much-ballyhooed downtown project called The Grid.Indeed, while bulldozers are moving dirt at other construction sites up and down Main Street, there appears to be nothing going on behind the fenced-off areas next […]