Investment activity held up nicely in the first six months of the year. Volume rose by 10 percent year-over-year in the second quarter to $167 billion, according to CBRE’s latest capital markets report. Monetary policies are expected to be the
No one wants a recession. And yet, they do eventually come as part of the business cycle. While the pandemic recession was an anomaly in that sense, the chances are reasonable that in the near- to mid-term, the U.S. could experience another one. Those companies that are
The Federal Reserve raised interest rates by 75 basis points in June and then another 75 basis points in July, sending shockwaves across the commercial real estate industry. Fortunately, there are opportunities and solutions to bypass these potential roadblocks.
Total construction starts rose 48% year-over-year in July to a seasonally adjusted annualized $1.36 trillion, said Dodge Construction Network. The dollar-amount gains resulted from starts on three large manufacturing plants and two LNG export facilities.
Ask just about any contractor in the Valley about the state of their current business and projects and they’ll tell you this: Business is booming! But, as fruitful as the Arizona construction and development market is throughout Metro Phoenix, it’s not without its challenges. Right now, Arizona’s
Senior commercial real estate executives are concerned about office and retail fundamentals as market uncertainty continues to curtail investors’ appetites for risk. The Q3 2022 Real Estate Roundtable Sentiment Index registered an
A new 71-acre surf and water park with lagoons and a retail and hotel district has been proposed for the city of Maricopa, a small city located about an hour south of Phoenix. The new “world-class entertainment and lifestyle venue” will comprise a
The Greater Phoenix office market posted the highest level of net absorption since the pandemic began. A report released by Colliers in Arizona outlines strong absorption and rental rate increases, despite a rise in sublease availability. Second quarter posted 517,623 square feet of net absorption, bringing the
Get the Kleenex ready. This one is tough to watch. The video covers the story of 14-year-old Zach Sobiech, who passed away May 20 after a battle with cancer. After being told he only had a few months to live, Zach lived. And Zach changed the world.
One of the most important housing market stories in recent weeks has been the decline in new listings, which has slowed the growth rate of total inventory. What does this mean? Some have said this is evidence of a soft landing for housing since we are in
Commercial real estate executives continue to view current conditions as significantly less favorable than previous quarters amid rising interest rates, increased inflation, supply chain disruptions and labor shortages. However, leaders’ expectations
With a portfolio of more than 5,000 apartment units in Arizona, Atlanta-based Cortland now plans to build its own apartments in Phoenix and Tucson. One of its first steps toward that effort is creating a director of development position for Arizona and hiring Ashley Nye to fill that role.
Rent growth across the office and multifamily sectors is no longer in lockstep, disrupting a lengthy period in which the sectors typically followed the same trend, according to a new analysis from Moody’s Analytics. Last year marked the
Ask just about any contractor in the Valley about the state of their current business and projects and they’ll tell you this: Business is booming! But, as fruitful as the Arizona construction and development market is throughout Metro Phoenix, it’s not without its challenges.
SANTA BARBARA, CALIF. — Institutional capital investment in single-family-rental (SFR) acquisitions and build-to-rent (BTR) projects is growing by leaps and bounds. Institutions funded $2.5 billion in SFR acquisitions in
In early June, two days before the Federal Open Market Committee increased the Federal Funds Rate by 75 basis points, Odyssey Properties Group struck a deal to buy a multifamily asset in Dallas at a 3.5 percent cap rate. The Los Angeles-based real estate investment firm was
In the midst of economic and market volatility, retail real estate held its own during Q2 2022. Commercial real estate analysts all indicted that inflation is impacting consumer spending, while less supply under development and delivery are supporting single-digit vacancy rates.
Two apartment complexes in the works on Osborn Road in central Phoenix aim to embrace the midcentury modern look of the Encanto area while filling older or vacant space in the heart of the city. Local Midtown is a complex that
A joint venture between Ryan Cos. and Westcore Propertieshas broken ground on Hatcher Industrial Park, a two-building business park totaling 906,125 square feet in Glendale, Ariz. Ryan Cos. is the builder, while Ryan A+E Inc. serves as
Consumers are feeling a bit better in August.In preliminary results for August, the University of Michigan’s index of consumer sentiment edged up to 55.1 from a July reading of 51.1 and above the all-time low reading of 50 (adjusted from 50.2) in June.
When the COVID-19 outbreak erupted on U.S. soil in the early part of 2020, the economy was quick to shed jobs. Not only did the national unemployment rate reach a record high in April of 2020, but the situation became so dire that lawmakers boosted jobless
U.S. grocery retail sales continued double-digit growth in July, climbing 16.8% year over year primarily due to food price increases, according to the latest Mastercard SpendingPulse report. That’s 29.5% higher than in July 2019, several months before the
Multifamily rent growth remains strong but is showing signs of slowing, according to the latest Yardi Matrix Multifamily Report. The average U.S. asking rate increased by $10 in July—the lowest increase since January—to a record $1,717.
Even as the housing market cools, homebuilders are still busy buying land, building homes and opening new communities. While they keep an eye on real estate cycles, they tend to keep a steady course when it comes to buying land, knowing a
After rising to its highest level in 40 years in June, inflation dropped slightly in July. Thanks to a decrease in the gasoline index the Consumer Price Index (CPI) remained unchanged from the month prior, after hitting a 1.3% seasonally adjusted rate in