Commercial Real Estate & Business News – February 15, 2024
Why US Economy is Powering Ahead of Europe’s While countries around the world have struggled to recover from the economic setbacks brought on by the pandemic, one has emerged particularly strong. With a fast-growing economy, a strong labour market and falling inflation, the US has outpaced its counterparts in Europe…» CRE Loan Originations Drop 25% […]
Commercial Real Estate & Business News – February 9, 2024
Multifamily Starts Exceeded Expectations in 2023 Despite previous forecasts, new multifamily development exceeded expectations in 2023. In part, the performance of this sector was due to a stronger-than-expected first half of 2023. In addition, data now suggests affordable and single-family housing are now significant…» Phoenix Developer Proposes Mixed-Use Project at Trailer Park Site Venue Projects, […]
Commercial Real Estate & Business News – February 7, 2024
Commercial Real Estate a ‘Manageable’ Problem but Some Banks Will Close: Powell Federal Reserve Chair Jerome Powell is predicting that more small banks will likely close or merge due to commercial real estate weaknesses, but that the problem is ultimately “manageable.” The central bank official made this point during a “60 Minutes” interview that…» Mixed-Use […]
Commercial Real Estate & Business News – February 6, 2024
Luxury Mixed-Use Development in Peoria Slated to Break Ground this Summer Stadium Point, a major mixed-use development that is expected to boost Peoria’s P83 entertainment district, could break ground as soon as this summer, according to the master developer Steinhauer Properties Inc. The 1 million-square-foot development, which…» It’s Another Month of Negative Multifamily Rent Growth […]
Commercial Real Estate & Business News – February 5, 2024
Northrop Grumman Bolsters Presence at Gilbert Business Park Northrop Grumman Corp. (NYSE: NOC) has inked another large lease at Gilbert Spectrum. The Virginia-based aerospace and defense contractor is taking the entire 119,222-square-foot Building 3 at the Gilbert business park near McQueen and Elliot roads. “In Arizona, we…» These Cities are Popular With Renters Right Now […]
Commercial Real Estate & Business News – February 2, 2024
Westin Tempe Hotel Faces Foreclosure Sale The Westin Tempe faces a potential foreclosure sale after failing to make its loan payments. The lender for the 290-room hotel near Seventh Street and Mill Avenue in downtown Tempe filed a notice of trustee sale earlier this week, according Maricopa County records. Such…» What Multifamily Rent Growth Patterns […]