Commercial Real Estate & Business News – August 4, 2016

Investor confidence returned following a tepid first quarter and the CoStar Commercial Repeat-Sale Indices (CCRSI) ended the first half of 2016 on a stronger note, reflecting the broad-based gains in commercial real estate prices and investment activity across regions and property types. The value-weighed U.S. Composite Index, which largely reflects sales of high-quality, higher priced assets, rose by 3.3% in the second quarter,...»

A small retail center in Scottsdale has sold for just under $1.5 million. And the local group that bought the property is looking to bring a new restaurant to a high-traffic Scottsdale location. Northsight Village III in Scottsdale only totals 8,532 square feet. That translates into a sale of $172.88 per foot. ...»

With the first quarter's turmoil in the global financial markets now in the rear-view mirror, Green Street Advisors said Wednesday that its outlook for commercial property prices is now noticeably brighter. "The forecast has changed quite meaningfully over the past six months," Andy McCulloch, managing director of real estate analytics for Newport Beach, CA-based Green Street, said in a webinar last week providing a mid-year update on commercial real estate fundamentals and valuations. ...»

This week, a new but not unexpected wrinkle emerged in what has been a volatile and tentative CMBS market. While overall CRE lending has been strong, securitization activity of commercial-backed loans has been subdued. In addition to market volatility, CMBS analysts attributed the drop-off in CMBS activity to new federal regulations taking effect at the end of this year governing retention of some loan risks by lenders and originators. ...»

Barrett-Jackson Auction Co., which holds one of the world's largest collector-car auctions in Scottsdale each January, will pump more than $167 million into the local economy in 2016, including more than $10 million in tax revenue, according to a study released Tuesday. The city and Barrett-Jackson commissioned Elliott D. Pollack & Co...»

Speak Your Mind

*

CommentLuv badge

footer script.