Commercial Real Estate & Business News – March 8, 2023
It’s Raining Multifamily “It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next…» Construction Paused on $2B Paradise Valley Master-Planned Community, Residents Frustrated Homeowners of […]
Commercial Real Estate & Business News – March 6, 2023
THE BIG PUSH Labor is a top reason why companies are choosing to move to or expand in the Phoenix metro, particularly in fast-growing areas like the West Valley. For the past two decades, West Valley cities such as Goodyear and Surprise have seen…» Macerich Refinances Arizona Mall, CBL Works Through $231 Million in Debt, […]
Commercial Real Estate & Business News – March 1, 2023
Amount of Maturing Hotel CMBS Loans Balloons This Year After Getting Extensions Hotel loans that have been packaged as commercial mortgage-backed securities, or CMBS, typically give borrowers the option to extend the loan beyond the stipulated due date by an additional year or two. Facing the suddenly elevated interest rate…» Experts Keep Guessing at When […]
Commercial Real Estate & Business News – February 28, 2023
Arizona is No. 2 State for Commercial Real Estate Development When it comes to commercial real estate development, Arizona is the second highest ranking state in the U.S. for overall contributions of real estate to state GDP of $91.3 billion, $41.2 billion in direct spending, $37 billion in personal earnings, and…» Pei Wei Fast-Casual Eatery […]
Commercial Real Estate & Business News – February 27, 2023
Arizona 2022-2024 Projected Employment Report Total Employment Projected to Grow 1.4% Annually, Led by Manufacturing FIND THE COMPLETE ARTICLE HERE…» How Arizona Is Positioning Itself for $52 Billion to the Chips Industry WASHINGTON — In recent weeks, Gina Raimondo, the commerce secretary, has talked with Sen. Mark Kelly of Arizona, spent time with the president […]
Commercial Real Estate & Business News – February 24, 2023
Phoenix Home Prices Holding Steady After Months of Decline The average home price in the Phoenix metro remained flat between December and January after about six months of declines, according to Redfin data. Why it matters: Any relief from the sky-high home prices we saw a year ago is welcome, especially…» Target to Invest $100 […]