The commercial real estate market has continued to show signs of recovery for the third quarter as sales volumes across most asset classes either grew or stabilized. According to a new report from Colliers, sales in the third quarter held steady year-over-year and increased over the second quarter, marking the
Dallas-based JLB Partners is proposing a mixed-use development with new luxury housing, office and retail along the Loop 101 in North Phoenix. The company recently submitted a zoning application for the 50-acre property, located at the northeast corner of Mayo Boulevard and
Commercial real estate has been on a “positive rebound” for MetLife, said executive VP, chief financial officer, and head of investment management John McCallion on an earnings call. Real estate investments provided an important anchor in MetLife’s third quarter. “The private equity portfolio, which had
Greg Jackson doesn’t have a window in his office, but he says he doesn’t need one. As the facilities manager for the Taiwan Semiconductor Manufacturing Company’s massive new factories in north Phoenix, Jackson spends a lot of time away from his desk, on his feet. Jackson’s responsibilities cover the
JLL Capital Markets announced today that it has arranged the sale of 24th at Camelback II, a Class A office asset totaling 306,877 square feet in Phoenix, Arizona. The transaction represents the largest Metro Phoenix office sale since 2022. The sale price was $97.9 million, according to
The 46th edition of PWC and the Urban Land Institute’s report on emerging trends in real estate depicts an industry that is slowly returning to some form of normality after the sharp jolts and shifts in usage brought on by the Covid pandemic. “Investors’ focus is swinging to the more
Metrics for both core and value-add multifamily assets improved across the board after the Federal Reserve’s rate cut in September—the first in two years. According to CBRE’s Multifamily Underwriting Survey for the third quarter, these improvements signal the market is on the road to
Following the first rate cut from the Federal Reserve in two years in September, metrics for both core and value-add multifamily assets improved across the board in the third quarter, CBRE reported Wednesday. The gains were reflected in cap rate compression for core and value-add properties
Phoenix-based NexMetro Communities, which started the build-to-rent phenomena that is taking the country by storm, has another $1 billion worth of projects on its plate in several markets, including Arizona. Across the nation, NexMetro has 59 projects with
Tract, a developer of master-planned data center parks, recently announced its acquisition of a 2,069-acre land parcel in Buckeye. The land acquisition will be one of the largest data center parks in the United States, anticipating up to 20 million square feet of data center space across as many
Global returns on real estate turned positive in the second quarter of 2024 for the first time in two years, Nuveen said in a new report, as income returns mitigated value losses. This suggests “a budding recovery in the asset class,” wrote Donald Hall, global head of
Stability is the name of the game when it comes to the priorities of real estate investors heading into 2025, with attention turning to the nation’s Sun Belt as markets across the southeast maintain their post-pandemic expansion streak. Dallas won the leading spot as the most promising
The Hayden Flour Mill was the backdrop to Lorenzo Perez’s childhood. Anytime he’d visit his grandparents in Tempe and play outside, the mill stood out in Tempe’s skyline. When he attended Arizona State University to study architecture, the mill was a studio project site to let imaginations run rampant
U.S. consumers showed renewed faith in the economy in October as fears about a recession faded and optimism about the future increased. The Conference Board’s Consumer Confidence Index rose to 108.7 in October, up from 99.2 in September. It was the biggest monthly increase since
Rentometer has just released its Q3 2024 National Single-Family Rentals Report, which highlights significant trends in the U.S. single-family rental market. Are you wondering how much single-family rental prices in Arizona have increased? Here are a few key takeaways regarding single-family rental prices in
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The federal funds rate, determined by the U.S. Federal Reserve, is a crucial interest rate for Americans. It indirectly influences mortgage rates, credit card rates, business loans and more. Additionally, it affects the yield savers earn on savings accounts and certificates of deposit
Total economic activity has not fluctuated wildly across the country since early September, according to the Federal Reserve in its most recent Beige book — policymakers’ periodic summary of anecdotal reports on regional economic conditions. However, there were some notable
Sales volume of Greater Phoenix industrial properties rose significantly during third quarter, reaching $1.08 billion and marking an 82-percent increase year-over-year, according to a report released by Colliers. This improvement in investment sales occurred as 6.7 million square feet new
Buckeye could be next in line for a regional entertainment hub. The fast-growing West Valley city has been working on plans over the past year for a mixed-use destination for entertainment, retail, housing, recreation, education and research uses across 2,100 acres
BENGALURU, Oct 29 (Reuters) – The U.S. Federal Reserve will cut its key interest rate by 25 basis points on Nov. 7, according to all 111 economists in a Reuters poll, with more than a 90% majority predicting another quarter-percentage-point move in December. Since the U.S. central
The U.S. consumer-confidence index surged to 108.7 in October from a revised 99.2 reading in the prior month, the Conference Board said Tuesday. This is highest level of confidence since January. Economists polled by the Wall Street Journal had forecast the index
In the third quarter of 2024, office sales totaled $9.3 billion across 499 transactions, involving 51.4 million square feet of space, CommercialEdge data shows. This reflects a 9.9 percent decrease in sales count and a 7.2 percent decline in square footage from the second quarter of the
As reported by GlobeSt, multifamily investors are eyeing new opportunities as interest rates start to slip, setting the stage for renewed investment in the sector. According to the Arbor-Chandan 2024 Multifamily Opportunity Matrix, markets like Nashville, Phoenix, and Austin are prime for
California continues to dominate the industrial sector in rental rates, setting high benchmarks for rent levels across the nation. According to the October industrial report, Orange County leads the nation with an average rent of $15.73 per square foot, closely followed by Los Angeles at