Commercial Real Estate & Business News – April 17, 2025
Data center boom tests Arizona’s power grid Data centers consume an inordinate amount of electricity, and the Corporation Commission is trying to figure out how to cope with the demand. The big picture: With low energy costs and few natural disasters, the Phoenix metro area has become one of the top data center markets in […]
Commercial Real Estate & Business News – April 16, 2025
NRF: March sales see ‘moderate’ gain as consumers stock up before tariffs Retail sales inched up in March after two straight months of declines, but gains remained moderate amid consumer concerns about rising tariffs. Core retail sales (excluding restaurants, automobile dealers and gasoline stations) edged up 0.4% month over month in March and up…» Planned […]
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, […]