Commercial Real Estate & Business News – November 20, 2023
Specially Serviced Assets Keep Sliding in Value After a tough first half of the year for valuations, particularly among specially serviced properties, the third quarter of 2023 continued apace, according to a new report from CRED IQ. As a reminder, the first half of 2023 was bad. CRED iQ reviewed 190 appraisals of major properties […]
Commercial Real Estate & Business News – November 17, 2023
CRE Price Declines are Starting to Stabilize Trepp regularly watches property prices, using an index technique to show relative strength compared to some baseline year. Right now the Trepp Property Price Index, self-described as a “vital tool for gauging the health of commercial real estate,” has seen a continuous decline since…» PTK Spotlight: Arizona Land […]
Commercial Real Estate & Business News – November 16, 2023
A Welcome Slowdown Is Underway Despite the Federal Reserve’s aggressive tightening program over the past 20 months, the labor market has been surprisingly resilient. The 22 million jobs lost in March and April of 2020 as the economy shut down due to the pandemic were fully recovered by June 2022, and…» Hospital Campus in Buckeye […]
Commercial Real Estate & Business News – November 15, 2023
‘Boutique’ Apartment Building Planned at Camelback Lakes Office Complex An office building owner in the Camelback corridor is seeking to add a luxury apartment to its site, following a trend of adding infill development to increase a property’s uses. The office complex, called Camelback Lakes, is on 26th Street and Camelback Road and is proposing […]
Commercial Real Estate & Business News – November 14, 2023
Phoenix Metro Multifamily Market Tilts in Favor of Renters, Data Shows The Phoenix multifamily sector finds itself in a renter’s market as 2023 winds to a close. Phoenix rents have declined by 4.7% year-over-year, according to one recent study by ApartmentList. Rent prices dropped 1% in October, more than the national average of 0.7%. The […]
Commercial Real Estate & Business News – November 13, 2023
Here’s What is in Store for Arizona Economic Development in 2024 The Arizona economic development community has worked diligently in the past few years to attract massive projects such as LG Energy Solution’s $5.5 billion battery factory in Queen Creek and American Battery Factory’s $1.2 billion facility in Tucson. Doing so requires these professionals to […]