Commercial Real Estate & Business News – December 1, 2016

Phoenix is projected as the top housing market in the country for next year, according to a new forecast report by Realtor.com. The real estate group expects Phoenix housing to see price gains of 5.9 percent and sales growth of 7.2 percent....»
Health-care giant McKesson Corp. is moving its Arizona regional headquarters into a new building on the Salt River Pima-Maricopa Indian Community that could house almost 60 percent more employees than it currently has in Scottsdale. ...»

This month saw a modest increase in property valuations, with pricing increasing in four of the five major property sectors, according to Ten-X's latest Commercial Real Estate Nowcast. The firm reported separately that transaction volume rose in the third quarter, marking the first quarterly increase this year. ...»

A 65-unit loft development is slated just west of downtown Phoenix. The Capitol Lofts are being planned for vacant parcels at Ninth Avenue and Washington Street in between downtown Phoenix and the Arizona Capitol....»
It's often the fourth quarter that's the busiest time for deal-making in the investment sales sector. But that adage may not ring true this year. The rise in the 10-year Treasury rate could hinder some fourth quarter transactions...»

Commercial Real Estate & Business News – November 30, 2016

Consumer confidence soared to a nine-year high in November despite Donald Trump's upset victory in the presidential election, which was expected to intensify political uncertainty and roil markets. A closely watched index of Americans' outlook increased...»
Casa Grande in Pinal County is the new home of a 500-acre, $700 million, 2,000-employee automotive manufacturer. Menlo Park, California-based Lucid Motors will build an electric vehicle manufacturing facility in Casa Grande and has plans to build its luxury electric vehicles for first sale in 2018....»

Housing Trust Group (HTG), a leading multifamily developer, has closed on financing and broken ground on Aviva, a new $63 million, multifamily development in Mesa, Arizona. The luxury gated community, located at 8350 East Baseline Road, will consist of 325 one-, two-, and three-bedroom apartments....»

The corporate headquarters of Avnet, Inc. has been sold to Cole Office & Industrial REIT (CCIT II), Inc. of Phoenix. The Class A, 176,402-square-foot building at 2211 S. 47th St. has been the technology company's worldwide headquarters since 1997. ...»
Commercial property has been a big winner from years of ultralow interest rates around the world. Now markets are signaling that change might be in the air. Investors have been dumping government bonds in Europe, Asia and the U.S., sending prices tumbling. When bond prices fall, real-estate values often follow....»

Commercial Real Estate & Business News – November 29, 2016

Thrifty U.S. consumers carefully picked over Black Friday discounts during the four-day weekend, leaving retailers with less money in their registers and a lukewarm kickoff to the holiday season. Though the number of shoppers grew over the weekend, the average amount they spent fell 3.5 percent to $289.19 ...»
California once again dominates the list of rent-growth leaders for the coming year, with more than half of the top markets, but it may come as a slight surprise to some. Oakland tops the list, with San Francisco and San Jose still in the top 10. Oakland's rent-growth pace has slowed significantly recently...»

The U.S. Census Income and Poverty 2015 report was a positive one for the economy, with a 5.2 percent growth in median household incomes last year. But that doesn't mean Americans have more spending money. Middle class households may be better positioned to cover their expenses...»

Buying into the former Pink Pony in Old Town Scottsdale will cost an aspiring restaurateur $3.5 million which includes the land at 3831 N. Scottsdale Road, the 8,315-square-foot building, equipment and liquor license....»
SkySong, The ASU Scottsdale Innovation Center is getting another new innovative tenant - one that will take up a big chunk of the newest office building at the project. MindBody, a leading provider of cloud-based business management software for the wellness services industry, signed a long-term lease to occupy 28,229 square feet...»

Commercial Real Estate & Business News – November 28, 2016

Tax reform has become a central focus on the "what's ahead" discussions swirling around President-elect Trump's agenda. That topic has moved to the forefront for good reason. The commercial real estate industry, and the country, could be on the verge of the first substantive tax reform since 1986. ...»
Arizona State University is planning to build a $72 million residential housing project for its Greek organizations in Tempe. University officials will request approval from the Arizona Board of Regents today to enter into agreements to ground lease about 5 acres on the southeast corner of Rural and Terrace roads to American Campus Communities Inc....»

When the Mesa City Council was discussing how to redevelop business areas south and west of downtown this past September, Councilman Dave Richins pointed a figurative finger at Fiesta Village. The fenced-off shopping and retail complex at Alma School Road and Southern Avenue, Richins said, is "the worst of the worst" when it comes to blight in Mesa. ...»

Heritage Communities is building its third senior living community in the Phoenix area. The Omaha, Nebraska-based owner and operator of 10 senior living communities in Arizona, Nebraska and Iowa, is working in partnership with Phoenix-based Telis Senior Living Inc. Their partnership, called Orchard Pointe at Terrazza LLC, paid...»
Personal income grew 3 percent last year in Arizona, slightly off a national increase of 3.7 percent that year, as the nation continued to rebound from the recession, new government data shows. The report last week by the Bureau of Economic Analysis said average income in the state grew to $39,156 - compared to $48,112 for the nation - with growth in every county but Greenlee, which saw a slight dip...»

Commercial Real Estate & Business News – November 25, 2016

 

Not everyone is feeling confident about retail sales. U.S.-based importers and suppliers who sell goods to retailers are not entirely confident consumers are going to open their wallets, according to a new survey conducted by Capital Business Credit, a supply chain finance company...»

The odds that the Federal Reserve will elect to raise interest rates during the December meeting have reached 100%, according to the latest Bloomberg calculation based on futures trading. The last time the Fed chose to raise interest rates was in December of last year, which was the first time since June 2006...»

As it turns out, many of those less expensive housing states are red states, that is, states that traditionally vote Republican, and many of the out-of-state investors are from blue states, or states that traditionally vote Democrat, according to a new report from ATTOM Data Solutions, a fused property database...»

When it comes to trends in real estate, some are transient, and some are here to stay and shape the industry. We are interested to see how eco-friendly is the multifamily sector and what it means for renters...»

 
Home ownership rates in the US are expected to bounce back in 2017 and renting will become more affordable but Trump could push up housing cost, says a new analysis...»
footer script.