Commercial Real Estate & Business News – April 17, 2017

There's a little bearishness mixed in with the bullish outlook for net lease retail, although it's not due to any intrinsic weaknesses in the sector itself. Rather, it's a byproduct of the same investor caution that has tempered investment sales across commercial real estate generally. "The post-election interest rate surge forced many investors to reconsider their strategies, though the limited use of leverage by net-leased investors tempered the pullback in transactions...»
Dexcom Inc. (Nasdaq: DXCM), a San Diego-based manufacturer of continuous glucose monitoring for patients with diabetes, has expanded into a new manufacturing facility in Mesa. The 180,000-square-foot facility will support the company's global manufacturing operations and is projected to create more than 500 jobs over the next several years....»

Tech held onto its place as the urban office sector's dominant industry, capturing 24.2 percent of leasing volume during the first quarter of 2017, according to the latest office report from real estate services firm JLL. By comparison, the second largest occupiers in the sector are insurance and finance firms, which represented 14.2 percent of leasing volume during the first quarter. ...»

Quicken Loans has focused its search for space and the potential move of as many as 1,000 jobs to downtown Phoenix. Quicken is looking at the One North Central building at Central Avenue and Washington Street for its possible big move, according to multiple sources. The Detroit-based mortgage lender currently has a campus in Scottsdale with approximately 1,000 workers....»
While the recent rash of store closings has cast a pall over the retail landscape, the ongoing shakeout has been a boon to the handful of restructuring specialists that cater to retailers. Part real estate brokers, part legal advisors and part wholesale marketers, these hybrid firms seem to get all the big store disposition assignments when retailers go belly up. ...»

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