Commercial Real Estate & Business News – March 4, 2024
Retail Vacancy Across Phoenix Drops to 40-Year Low of Less Than 5% Residents across Phoenix have flooded local stores, driving retail properties to their lowest vacancy rate in four decades. Overall vacancy in the Phoenix retail market has fallen to 4.8 percent, the lowest since the early 1980s, AZ Big Media reported, citing an analysis […]
Commercial Real Estate & Business News – March 1, 2024
Phoenix Inflation Slows Compared With Rest of U.S. After seeing the highest inflation rate in the country, Phoenix inflation has slowed compared with rest of U.S. and Phoenix inflation is also below comparison metropolitan areas. The Consumer Price Index for All Urban Consumers (CPI-U), often referred to as CPI, serves as an…» Multifamily Starts Predicted […]
Commercial Real Estate & Business News – February 29, 2024
Two Decades in the Making, Ritz-Carlton in Paradise Valley Expected to Open in ’24 The end to a nearly two-decade-long slog to develop a Ritz-Carlton resort hotel in Paradise Valley could be near, as construction on the hotel focuses on interior work and work on the hotel rooms and surrounding villas. At a projected $2 […]
Commercial Real Estate & Business News – February 28, 2024
A Significant Share of Banks Are Overexposed to CRE Anyone in the industry could reasonably be tired of hearing how much trouble banks potentially face over CRE loans — especially the bankers. It’s not that people are enjoying this. And it’s not as though huge numbers of banks are about to fold. The concerns are […]
Commercial Real Estate & Business News – February 27, 2024
Economists Revise Projections For US Growth This Year The latest National Association for Business Economics (NABE) survey of forecasting economists about the outlook for 2024 and 2025 suggests that things are looking up since its take last quarter. They’re projecting real (inflation-adjusted) 2.2% GDP growth, versus the median…» Reshoring Puts Some Regions on Track for […]
Commercial Real Estate & Business News – February 26, 2024
Fairmont Scottsdale Princess Eyes Expansion of Guest Rooms, Restaurants, Event Spaces & More An iconic Scottsdale resort is looking to up its game. The Fairmont Scottsdale Princess filed a request to the city of Scottsdale to update its master plan. The request, which will be considered by the Scottsdale Planning Commission on Feb. 28, seeks […]