Both interest rate hikes and cap rate expansion will peak later this year and should decrease in 2024. As a result, today’s opportunity to buy assets for lower prices may not last very long, according to CBRE’s H2 2022 Cap Rate Survey. The survey was
Cash is still not only king in metro Phoenix — at least when it comes to home sales — but it’s also becoming more popular. All-cash deals represented 42.6% of all home sales in metro Phoenix in 2022, up 3% from 41.3% in 2021 and a huge jump from
MESA, Ariz. — Once a busy center for shopping in Mesa, Fiesta Mall has been sitting empty and left vandalized for years. But new plans submitted to the City of Mesa this week show potential ideas to demolish Fiesta Mall and build
A drop in home mortgage rates, a pause (or even cut) by the Federal Reserve at its March 22 meeting, and the need to obtain new letters of credit are among the matters to ponder as commercial real estate companies and venture-capital groups
Nowhere in the United States has the impact of in-migration been felt more acutely over the past few years than in the U.S. Sun Belt. This area, stretching from Phoenix to Florida and up to Tennessee and the Carolinas, experienced a surge in
Recent news of major office landlords Brookfield Property Partners LP and Columbia Property Trust defaulting on loans for prominent U.S. office properties may’ve sent a shiver through an already anxious commercial real estate industry. But are they
When Barbi Reuter, CEO and principal of Cushman & Wakefield | PICOR Commercial Real Estate Services in Tucson, Arizona, went to write an opening statement for an annual awards ceremony, she decided to open up the artificial
Evergreen Devco, Inc., a leading retail and multifamily development company, announced today the opening of its 258-unit Parc Tolleson multifamily community located at 89th Avenue and McDowell Road in Tolleson. “Parc Tolleson offers
Despite elevated manufacturing and consumer goods production through 2022, the industrial sector is reflecting the start of a softening period, according to Ermengarde Jabir, senior economist at Moody’s Analytics, in a report
The fallout around Friday morning’s closure of Silicon Valley Bank — one of the largest bank failures in history — isn’t limited to the tech sector. The institution, a lender favored by startups that went under abruptly after a
Talos Holdings started work on a “new” multifamily luxury rental community in East Mesa. The developer says the individualized living experience, The ONE at Mountain Vista (The ONE) will offer residents a unique alternative to
Fundamental Income Properties, an investment firm specializing in sale-leaseback deals and bankrolled by Canadian investment giant Brookfield Asset Management, is for the first time looking to sell securities in a fundraising effort tied to
The Arizona self storage sector continues to be generous compared to other states. According to a recent StorageCafe study, most cities in Arizona are deemed renter-friendly, with plenty of storage options and reasonable prices.
One question facing the multifamily sector amidst inflation and the Federal Reserve’s push on interest rate increases and quantitative tightening has been where would rents, and therefore NOI and valuations, go. According to new data
The Phoenix region is fresh from an unprecedented apartment building boom that peaked in the last quarter of 2022, and recent statistics suggest that the wave of new supply has outrun demand, an imbalance that could become
San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 296-unit Ironwood at Happy Valley (formerly known as Springs at Deer Valley) apartment community in Phoenix. The $90.3 million purchase marks the firm’s
In the newest report published by PropertyShark, which ranks the country’s 100 priciest office submarkets by sale price per square foot, five Arizona office submarkets are among the Top 100 most expensive per square foot in 2022.
The Federal Reserve released its February 202 Beige Book on Wednesday. The good news is … things haven’t gotten horrible. Which may not seem a big comfort, but the way things have been seemed to head — with
After much public outreach, Scottsdale-based Walton Global, a real estate investment and land asset management company with US$3.4 billion under management, has submitted an application with the Town of Paradise Valley to
In the 2022 US housing report from the National Association of Realtors and Move.com, which operates Realtor.com for the NAR, the big news is more of the same. The market is now, by their count, 6.5 million new single-family homes short of
The paperwork took longer than the bidding process. Michael Lieb’s firm, Legacy 76 LLC, won 20.5 acres of north Scottsdale land on Wednesday at the Arizona Land Department building. The minimum bid was $28.07 million, which is
CBRE is raising its forecast for hotel performance in the Phoenix metro and nationally on the heels of industry gains in Q4 2022 and the expectation of slightly positive GDP growth in 2023. DEEPER DIVE: Here are the finalists for the 2023 RED Awards
Real estate development firm Roers Cos. received $90 million in financing to build a 200-unit affordable housing project in Buckeye, a fast-growing suburb west of Phoenix. Roers, based near Minneapolis, secured
CRE has been an industry soaked in uncertainty. Interest rate jumps, worries about a potential recession, significantly reduced transactions that makes price discovery difficult. For those in the office sector
“It’s Raining Men,” so the 1980s song by the Weather Girls went. More than 40 years later, what’s raining is multifamily units. In a research brief, CBRE forecasts that 716,000 multifamily housing units will hit the market over the next