Commercial Real Estate & Business News – February 24, 2017

After becoming the darlings of shopping center developers and fast-tracking expansion plans, national organic and specialty grocers such as Whole Foods Market Inc. (NASDAQ: WFM) and several regional grocery chains have recently announced plans to trim store counts a...»
Consumers are spending more money on experiences than material goods, including their homes, which gives the CRE industry insight into future projects and planning, MasterCard's SVP market insights Sarah Quinlan told attendees at MBA's CREF/Multifamily Housing Convention & Expo 2017...»

If you're a multifamily property investor, you may be understandably conflicted over the prospect that Federal Reserve Chairman Janet Yellen and her fellow central bank governors are expected to raise interest rates soon. ...»

With anchor stores like Giant Foods, Home Depot and Marshall's, Palmer Town Center in Easton, Penn., is decidedly outside the ranks of trophy properties. Those attributes, however, did not stop 14 investors from bidding on the open-air center before it sold for $32 million. ...»

New York-based Rockefeller Group and Investment Property Associates LLC (IPA) were developing two new Class A apartment complexes in the Phoenix market. The projects in Phoenix's Deer Valley area and Goodyear total 711 units and will be part of IPA's "Liv" brand....»

Commercial Real Estate & Business News – February 23, 2017

The nation's publicly traded REITs are projecting to remain net sellers again this year with current disposition plans announced by 39 major REITs calling for the sale of more than $15 billion in properties. REITs said they plan to plow most of the proceeds from those sales into their development pipelines...»
On Feb. 3rd, President Trump signed an executive order directing the Treasury secretary to conduct a broad review of The Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted in 2010. At the time, Trump said "we expect to be cutting a lot out of Dodd-Frank ...»

It's been a tough couple of years for retail and restaurant chains. With the rise of local first and e-commerce options, more traditional chains are having a rough go of it, with shops such as Macy's, The Limited and Sports Authority having to close their doors, among others....»

Multifamily lenders need to keep an eye on income growth and factor it into their underwriting standards, in addition to being aware of decreasing affordability in the market, speakers at MBA's CREF/Multifamily Housing Convention & Expo 2017 here told attendees at yesterday's "Emerging Trends in Multifamily" panel...»
The U.S. apartment market has been a "winning bet" for real estate investors in the years following the recession, according to MPF Research, a division of RealPage. Average U.S. apartment rents have increased by 26% since 2010, and the multifamily sector annually contributes about $284 billion to the economy. ...»

Commercial Real Estate & Business News – February 22, 2017

A new report sees Arizona shifting into higher gear this year, with the pace of economic growth nearly doubling and the state's population passing 7 million. "Real GDP growth has ramped up as long-standing efforts to diversify the state's economy are beginning to pay off in a big way, just as the inflows of retirees and tourists kick back into high gear,"...»
The mood on the show floor at the annual MBA Commercial Real Estate Finance/Multifamily Housing Convention & Expo,, which is taking place in San Diego this week, is an odd mixture of optimism and uncertainty. With healthy property fundamentals and few concerns about overbuilding...»

Rockefeller Group and Investment Property Associates, LLC (IPA) announced today the development of two new "Liv"-branded Class A apartment communities in the metro-Phoenix area. The projects, located in the Deer Valley submarket of Phoenix and in Goodyear, will total 711 units...»

When a retailer announces that it will sell off about 1,200 stores in order to take its business to the next level, these days the assumption is that the company is struggling to stay afloat and needs to quickly shed excess weight and curb costs....»
Located within one of the largest entertainment and retail districts in Arizona, Westgate 95, a 7,539 square foot retail center, sold for $1,500,000 ($199/SF). Built in 2008, Westgate 95 is located steps away from Westgate Entertainment District, which offers a unique outdoor setting...»

Commercial Real Estate & Business News – February 17, 2017

Mortgage professionals gathered for day two of the Mortgage Bankers Association's National Mortgage Servicing Conference in Dallas, where the MBA outlined its economic outlook for 2017. The MBA stated that the economy will see steady, modest growth as the Federal Reserve begins to see some of its economic targets hit. In fact, Lynn Fisher, MBA vice president of research and economics explains these targets being reached could lead to a change in economic policy...»

U.S. retail and food services sales enjoyed a 0.4 percent increase in January ($472.1 billion in sales), more than economists expected, the U.S. Census Bureau reported on Wednesday. Compared with January 2016, the increase was 5.6 percent. Not only that, sales in December were revised from up 0.6 percent to up 1 percent...»

Many of the leading U.S. commercial and multifamily markets experienced substantial gains in 2016 over 2015-aside from New York-according to new data from Dodge Data & Analytics. New York remains the top metropolitan commercial and multifamily market in 2016 by the dollar value of its construction starts, but its $29.8 billion construction value last year reflects a 15% drop from the $35.2 billion value of its construction starts in 2015, which itself was a 67% surge in growth from 2014...»

With a new administration in office, the industry is bracing for changes to everything from tax codes and interest rates to the government-sponsored enterprises, particularly Fannie Mae and Freddie Mac...»

U.S. homebuilding fell in January as the construction of multi-family housing projects dropped, but upward revisions to the prior month's data and a jump in permits to a one-year high suggested the housing recovery remained on track...»

Commercial Real Estate & Business News – February 16, 2017

It would be "unwise" to delay interest rate increases too long, said Federal Reserve Chair Janet Yellen, speaking before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate on Tuesday. She didn't say there's going to be a move on rates next month-the next opportunity for the Fed-but that delaying would mean more rapid rate hikes down the road, which would be more disruptive...»

There is always a bit of suspense after a sector takes off and developers break ground on a host of new projects. That's when people start to carefully watch the flow of new tenants and gauge whether the level of demand justifies all that new construction. The multifamily market in the US has been one of those rapidly expanding sectors, and so far, the new supply seems well-matched by the desire among consumers for new homes...»

Leaders in the multifamily industry may be just as in the dark as everyone else when it comes to new policy stances on housing, immigration, tax reform, and other issues that could affect the market, but largely the industry is feeling healthy...»

Gilbert will have a new shopping center by the end of this year. San Tan Pavilions, the upcoming center at Williams Field Road and SanTan Parkway, has announced six incoming tenants, which amounts to 119,393 square feet of retail and restaurant space. A rendering of the San Tan Pavilions in Gilbert...»
Development plans include a three-story, 125,000-square-foot mini storage facility at one end of the property and more than 300 apartments on the remaining 6 acres...»
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