The U.S. apartment market saw demand rebound back into positive territory in the first quarter of 2023 but the first three months of the year were weaker by historic standards. Still, it’s the latest sign the apartment market is returning to
Clarification: This story has been updated to make clear that RentCafe found that there are more millennial homeowner households than renter households based on data looking at 260 U.S. metropolitan areas.Skyrocketing home prices
As other financial service giants such as Bank of America and JPMorgan Chase warn of a possible or even likely economic shock because of the slump in commercial real estate, Goldman Sachs is less concerned about the risks ahead, especially from
The first quarter in general, and March in particular, proved positive for multifamily metrics, according to RealPage Market Analytics and Yardi Matrix. Net apartment demand rebounded back into positive territory in Q1, ending a streak of
Thanks to the savings in cost and time to opening, retailers are craving second-generation spaces these days. Landlords like to backfill those spots with like-kind tenants for the same reasons
A new Scottsdale retail, restaurant and entertainment development has signed on a high-profile hotel. Reverb by Hard Rock is planning to build a 168-key hotel at The Sydney, which is being developed on a
Their family business was successful and growing. But backyard conversations in 2020 revolved around uncertainty and survival. Brothers Jared and Aaron Pool had the secret sauce that made their Gadzooks Enchiladas and Soup chain a hit
The Tohono O’odham Gaming Enterprise (TOGE) broke ground today on a new Desert Diamond Casino facility located near Loop 303 & Northern Parkway. The first phase of the new facility will feature a 184,000 square-foot casino floor with
Economists’ eyes are fixed on the March jobs report being released on Friday with some hope of more signs that inflation is slowing. However, no matter what the results, chances are that there are still more interest rates ahead, according to
Phoenix is one of the top cities in the United States for the amount of vacant land it has available. A recent report from CommercialCafe found that Phoenix has 15,897 parcels of vacant land, totaling
The Arizona Coyotes and its development arm, Bluebird Development, say they have had enough of Phoenix’s bullying bureaucrats. And now the City of Phoenix is facing a $2.3 billion claim after the Coyotes claim it broke its word and decided to
Forget gyms, outdoor balconies, air filtration systems and parking. The biggest question office tenants have for landlords these days: Who’s your lender? Turmoil in the U.S. office market — which has
Two tiny homes last week arrived in downtown Mesa ahead of groundbreaking for an unusual residential project planned to get underway this spring. ZenniHome, created by SkyMall founder and former state Sen. Bob Worsley, is preparing to
The Fed will not stop hiking rates until it sees the unemployment rate spike, the banking system won’t collapse and there won’t be a recession in 2023—but whatever you want to call it will walk like a recession, talk like a
Phoenix-based developer George Oliver, known for its cutting-edge office redevelopments, has unveiled plans for Bond, a $52 million renovation that will transform the landmark Biltmore Commerce Center into a
Steadily rising mortgage rates throughout last year put a damper on home purchases. Rising home prices coupled with higher financing costs priced many potential buyers out of the market. But so far this year, rates have
D.R. Horton Inc. (NYSE: DHI) launched a soft opening of its Radiance at Superstition Vistas master-planned community that eventually will boast 5,000 homes in the far East Valley. Two models are open at Radiance, which is
Over the last three years, Covid-19 extended the timeline for residential and commercial real estate projects to be completed–and its aftereffects continue to slow momentum. The multifamily housing category has been
Desert Diamond Casinos, the enterprise arm of the Tohono O’odham Nation, is set to begin construction this week on a new casino in the “far West Valley.” The tribe announced Monday it would be holding a private groundbreaking event on April 5th
(Bloomberg Opinion)—The US office market faces a tough road ahead. Corporate tenants are considering scaling back, higher interest rates are hurting valuations and many property owners face looming debt maturities that they may struggle to
Entertainment-related foot traffic at U.S. commercial centers continues to rebound from levels seen in the early days of the pandemic, though movie theater attendance remains down 34% from pre-pandemic levels. A new report
Cap rates in Q1 2023 represented the highest levels since Q3 2020 for both the single-tenant retail and office sectors, according to a new report from The Boulder Group. Decreasing transaction volume for the greater real estate market continues to
JLL CEO Christian Ulbrich sees that sentiment – and investors’ heads – are turning for the better when it comes to the US office market, he said last week, appearing on CNBC’s “Squawk on the Street.”
Arizona has attracted more than $58 billion in private investments for manufacturing since 2021, one of the highest levels in the country, according to the White House, which calls it proof that the president’s economic agenda is working
With interest rates still rising, prices retreating and credit evaporating—and a stressed-out banking system moving to shore up balance sheets—expect more fire sales of older CMBS loans and an acceleration of plunging CRE values in markets