Commercial Real Estate & Business News – December 31, 2013

CoStar News continued to cover the biggest deals and dealmakers in commercial real estate in 2013, our 15th year serving as a major source of industry news. Our research analysts and journalists provided timely reporting and insightful views on the trends and transactions that shaped the commercial real estate market in Phoenix...Read more
The City of Mesa has reached an agreement to sell more than 11,000 acres of land and receive up to $135 million to an investment firm in one of the largest land deals in the city's history. The agreement will have the city sell of more than 11,400 acres it purchased in 1985 to the real-estate investment company Pinal Land Holdings, LLC. PLH will fully manage the land, located in Coolidge's city limits... Read more
Cole Capital, the private capital management business of Cole Real Estate Investments, Inc., announced the acquisition of five single-tenant corporate properties by Cole Corporate Income Trust, Inc. (CCIT). The combined price of the acquisitions was approximately $202.1 million and included facilities in San Jose, Colorado Springs, St. Louis and Houston... Read more
It was another year of dominance for the multifamily sector. It remains the preferred property type of most commercial real estate investors and is the strongest performer by any metric you look at. Cap rates and vacancy rate remain near historic lows. Rents are rising. And the development pipeline is healthy with most observers comfortable that there is no immediate danger of overbuilding... Read more
Home price growth in the United States remains strong but is expected to slow during 2014 as the rise in vales tail off, according to the latest market report from Zillow. It shows that prices were up 0.6% last month and 7.1% year on year. Home values are expected to rise another 4.6% over the next 12 months. The growth is pretty much nationwide with nearly 90% of metros analysed showing annual appreciation... Read more

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