Commercial Real Estate & Business News – September 21, 2021
CRE Brokers Gaze Into Crystal Ball, Have Mixed Outlook on Valley Market Commercial real estate brokers around the Valley expect to see additional office space on the sublease market as employees opt to work from home. That will be countered to a degree, many say, by firms looking for space as they move to Phoenix […]
Commercial Real Estate & Business News – September 20, 2021
Business Travel Revenue Won’t Reach Pre-COVID Levels Until 2024 Business travel revenue will not likely hit pre-pandemic levels until 2024, with New York City, Washington DC, and San Francisco among the markets with the longest recovery ahead.A new report from the American Hotel & Lodging Association and Kalibri Labs predicts the hotel industry will end […]
Commercial Real Estate & Business News – September 15, 2021
Ohio-Based Developer Enters Phoenix Market With Large West Valley Industrial Projects A national developer has started construction on a West Valley industrial project, its first development in the Phoenix metro, and has plans to build more. Columbus, Ohio-based The Pizzuti Companies has just broke ground on Cotton 303 Logistics Center, a 915,160-square-foot speculative industrial building […]
Commercial Real Estate & Business News – September 14, 2021
Apartment Retention Rates Surge to Near Lockdown-Era Peaks Apartment retention rates are soaring back to lockdown-era highs, as more renters are determining that staying in place is often the best and most affordable option – given a remarkable lack of alternatives for all types of housing and for all price points.The share of renters choosing […]
Commercial Real Estate & Business News – September 13, 2021
U.S. Multifamily Rents Set Record for Year-Over-Year Growth Multifamily asking rents increased nationally by 10.3% in August on a year-over-year basis, marking the first double-digit increase in the history of Yardi Matrix’s data set. Overall occupancy was strong, as well, increasing by 0.9% from a year ago to 95.6%. All metros that Yardi Matrix tracks […]
Commercial Real Estate & Business News – September 10, 2021
KPMG: Retailers Optimistic About Holiday but Worried About Inventory Shortages Holiday sales are expected to be 7% higher this season compared to last year — the metric is almost double the industry’s historical growth, which tends to run 3% to 4%.That’s according to a new report from KPMG, which surveyed 114 U.S. retail executives across […]