Since 1983, GlobeSt. Real Estate Forum has recognized a growing number of female CRE professionals for their remarkable achievements. Once again, GlobeSt. has collected nominations across various categories, spanning the entire commercial real estate spectrum, in effort to shine a light
In a signal of the Phoenix metro’s growing presence in the automotive and semiconductor industries, more than 60 companies in those sectors — mostly from Taiwan and Singapore as well as Japan, New Zealand, Switzerland and Ireland — converged in the Valley in the past week to learn
The nonprofit organization that owns Legacy Park, the massive sports complex in east Mesa, announced Monday it was filing for bankruptcy protection, further clouding the financial picture of the park that has brought in millions of athletes and visitors, but not enough dollars. In a news release,
Institutional investors are sitting on the sidelines of the commercial real estate investment market, but they are not backing away from the asset class entirely. Instead, they are waiting for the investment sales climate to become less volatile and for asset prices to fall,
An apartment real estate investment trust critical of the eviction moratoriums instituted during the pandemic reported that its bad debt has dropped faster than expected this year now that the emergency bans have been lifted. Bad debt caused by non-payment of rent at properties owned by
This is a day of good news on the inflation front that may not matter to the Federal Reserve, at least for now. First, compensation costs for private workers were up a seasonally adjusted 1.2% for the first quarter of 2023, according to the Bureau of Labor Statistics. Wages and
Urban Outfitters has found industrial space in the East Valley to serve its retail stores. The Philadelphia-based company will move into a newly built, 190,000-square-foot building at Warner Commons in Gilbert. It will occupy about 130,000 square feet, said Stein Koss,
In an effort to consolidate the Loop 202 South Mountain Technology Corridor, the City of Phoenix has approved infrastructure cost reimbursements, totaling $20 million, for two development companies which will bring new industrial projects in the area. Under the terms
Phoenix is spending almost $30 million buying up property in west Phoenix to lift residents out of poverty and to give a much needed facelift to the 27th Avenue corridor. Two former motels and a vacant K-Mart building at 27th and Northern avenues just west of
As the semiconductor manufacturing buildings go up, the suppliers move in. Edwards, a British company that helps to keep clean rooms and other manufacturing areas pristine, has opened shop in Chandler, the latest in a string of suppliers and contractors jockeying to serve
One of the final pieces of a major community in Peoria is slated to start construction next year and will feature a new commercial core across 320 acres. The site is being branded as Five North at Vistancia, a high-quality lifestyle hub featuring a main street restaurant and retail corridor with
Miami-based Lennar Corp. (NYSE: LEN), which sells homes for an average of $515,000 in metro Phoenix, is introducing a more affordable home design that starts in the low $300,000s. The homebuilder is launching a new series called Premier Homes, addressing the need for first-time
The first quarter of 2023 was a disappointment by broad economic measures. The consensus 2% real GDP growth expected by economists polled by Dow Jones instead was 1.1%, according to the Bureau of Economic Analysis. That’s also the second consecutive quarter of declining growth,
The nation’s retail real estate sector might not be thriving, but right now it’s showing broad strength, with falling availability and steady absorption, helped by a development pipeline described as “muted,” according to newly released first-quarter figures from CBRE. Less-welcome news is
In the wake of failures of Silicon Valley and Signature banks this March, media outlets have been awash with speculation that the regional bank sector, and with it, commercial real estate, were headed for a crisis similar to the one seen during the Great Financial Crisis (GFC). Such takes might get
Trammell Crow Company (TCC), a global real estate developer, and CBRE Investment Management, on behalf of a separate account client, have acquired a 192-acre development site in Mesa, Arizona. The master site will be divided into ‘shovel-ready’ lots that will range from 12 acres, up to
No one is quite sure what will happen when the wave of CRE loan maturities start to come due this year and into the next few. Aaron Jodka, Colliers’ research director of U.S. Capital Markets, has his theories though. He believes that banks and other lenders may be willing to renew
A Phoenix mortgage banking firm found its year-over-year commercial real estate loan production was down about 50% in the Phoenix metro during the first quarter of 2022 across all assets, but its local team thinks a rebound could be around the corner. Adam Parker, a principal at
The city of Phoenix is looking to turn remaining vacant farmland along a major freeway corridor into a new industrial and technology-focused center. Phoenix wants to help developers bring new industrial buildings to the Loop 202 in the Laveen area in the south part of the
The swift rise in mortgages rates over the last year reduced the affordability of single-family houses more rapidly and more severely than what buyers experienced after the Great Financial Crisis. Mortgage rates have moved within a narrow range since the beginning of year for reasons not
The city of Phoenix is looking to turn remaining vacant farmland along a major freeway corridor into a new industrial and technology-focused center. Phoenix wants to help developers bring new industrial buildings to the Loop 202 in the Laveen area in the south part of the city by reimbursing
On behalf of KBC Advisors Arizona, Phoenix-based Stevens-Leinweber Construction (SLC) has started construction on Empire 101, a new Class A industrial project fronting the Loop 101 freeway, north of Cactus Road in Peoria, Arizona. Located just 12 minutes from the new TSMC semiconductor
The owner of Desert Ridge Marketplace and Tempe Marketplace is betting that large-scale retail isn’t dead, it has just moved outdoors. Phoenix-based Vestar has three open-air shopping centers under construction around the Valley, with two large-scale centers, planned to be similar to their
CMBS issuance dropped to levels not seen since 2012 in the first quarter, totaling a “mere” $5.98 billion that was 12% less than fourth-quarter volume and 79% less than the same period a year ago, according to a new report from Trepp and Commercial Real Estate Direct. Rising interest rates and increasing
The most recent banking troubles, rising inflation, and prohibitive mortgage rates are some of the issues affecting the housing market at the moment. And the latest data supports the fact that the market is losing momentum: While the number of completed units has increased every year since 2012,