ORION - Phoenix Top 3 News Bulletin - October 19th, 2023

 

In an Unusual Move, Big Bank Balance Sheets Shrink CRE Lending There’s been a big shift in commercial real estate lending. “According to the Federal Reserve, in August large domestic banks saw their aggregate loan balances tighten for the first time since January 2022, and their loan balances have declined further over the first two weeks of September,” wrote...» LPC Breaks Ground on Massive $515M Luke Field in West Valley LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Company (LPC), has joined with Maricopa County Board of Supervisors Chairman Clint Hickman, project partners and VIP guests to celebrate the groundbreaking of Luke Field, a $515 million, 2.4 million-square-foot Class A industrial...» Climate Issues Becoming More Critical for RE Development Considerations for severe weather and climate, in general, have real estate developers putting more focus on how they build and operate. But add to that rising insurance rates, which have dealt a big blow to budgets as premiums continue to climb, especially in some Sun Belt markets. Breana Wheeler...»