Commercial Real Estate & Business News – April 15, 2025
Construction begins on $326 million North 2 Concourse in Terminal 3 McCarthy Building Companies Inc. recently began construction of the $326 million North 2 Concourse in Terminal 3 at Phoenix Sky Harbor International Airport, which includes the addition of six new passenger gates. Phoenix Sky Harbor International Airport’s Terminal 3 handles approximately 25% of passenger […]
Commercial Real Estate & Business News – April 11, 2025
CRE Market Recovery Hinges on Borrower-Lender Cooperation, Moody’s Says After a period of stagnation, the commercial real estate market is showing signs of life, with February sales surging 30% year-over-year and distress rates for CMBS loans declining for the second consecutive month. This thawing was highlighted in a recent report by Moody’s and stems from […]
Commercial Real Estate & Business News – April 9, 2025
‘New Town’ may be in the wings At the rate things are going, Old Town may need a new name. Anyone for New Town? Granted, that might not land well in “The West’s Most Western Town.” Even so, while Mayor Lisa Borowsky continues a thus-far losing battle over an Old Town parking garage she calls […]
Commercial Real Estate & Business News – April 8, 2025
Apartment rents expected to accelerate across country as demand stays solid, completions moderate Apartment rents across the United States are expected to accelerate at a quicker clip in the second quarter as demand remains solid and the number of units completed continues to slow. Nationally, year-over-year multifamily asking rents grew 1.1% this year through March, […]
Commercial Real Estate & Business News – April 7, 2025
A Long, Loopy Ride Glendale City Manager Kevin Phelps would like to see the $1.2 billion VAI Resort and Mattel Adventure Park welcome guests before he leaves the city in 2026 for his next career move. The hospitality project, which kicked off construction in 2021 in Glendale’s sports and entertainment district, is the single project […]
Commercial Real Estate & Business News – April 4, 2025
First-quarter US hotel asset sales declined by 30% from a year ago At the Americas Lodging Investment Summit in January and the Hunter Hotel Investment Conference in March, brokers and lenders were optimistic that 2025 would see healthy growth in asset trades. If the first quarter is an indication of the year to come, industry […]