Commercial Real Estate & Business News – February 10, 2025
Phoenix wants to redevelop downtown garage into hotel The city of Phoenix wants to partner with a real estate developer to turn a large downtown parking garage into a new hotel. It’s planning to issue a request for proposal to redevelop the Regency parking garage located on Adams and 2nd streets next to the Hyatt […]
Commercial Real Estate & Business News – February 7, 2025
The 10 biggest Metro Phoenix real estate deals in January Here are the 10 biggest deals in Metro Phoenix commercial real estate from January of 2025, according to data collected by the commercial real estate tracking website Vizzda and AZRE magazine. 1. Town Deer Valley Apartments. Price: $131,100,000. Sector: Multifamily…» Behind the deal: What the […]
Commercial Real Estate & Business News – February 6, 2025
Multifamily Investors Accept Higher Rate Environment Multifamily investors may be coming to terms with the new interest rate climate, which is a good thing since the Federal Reserve has signaled it is not ready to lower rates further at this time. When the central bank met last week, it declined to change the overnight rate […]
Commercial Real Estate & Business News – February 5, 2025
Arizona’s economy: Headed into uncharted waters Even with significant headwinds from reduced housing affordability, elevated interest rates, and tight labor markets, Arizona continues to generate solid economic growth. Job gains are far outpacing national growth in the preliminary data and may be growing even faster than the data suggest. Phoenix inflation…» $3 billion Mesa data […]
Commercial Real Estate & Business News – February 4, 2025
What is Arizona’s exposure to potential cost-cutting efforts in federal real estate? The General Services Administration (GSA), which oversees the federal government’s roughly 360 million-square-foot portfolio, could be a target of the cost-reduction efforts led by President Donald Trump’s newly formed Department of Government Efficiency. This includes real estate that’s leased and…» CoStar’s Deep Dive […]
Commercial Real Estate & Business News – February 3, 2025
Core Capital Fundraising Triples, Signaling Broader Market Recovery Multifamily has shown an interesting pattern with importance beyond the category. Core and value-add metrics outperformed expectations in the third quarter of 2024 and core asset IRR targets rose as underwriting stabilized in Q4. CBRE reported “substantial movement” in unlevered…» Belgravia Group Acquires 4.57 Acres of Scottsdale […]