Commercial Real Estate & Business News – December 31, 2015

HAPPY NEW YEAR!

The shift of investor money away from easy price appreciation to current net operating income is already beginning to define the office market of 2016. The change in investment strategy is particluarly evident among pension funds. Now that the days of interest-free federal money has come to an end with Federal Reserve moving the borrowing rate up from 0% to 0.25% this month, several major investment funds have taken steps to reposition their real estate portfolios in an effort to improve their inflation-hedging potential by focusing on current income generation...Read more »
With immense growth in this recovery cycle, multifamily executives are ­eager for yet another great year. That’s understandable after a banner 2015: ­According to MPF Research, rent growth and occupancy levels reached historic highs last year, at 5.6% and 96.1%, respectively... Read more »
With increasingly confident U.S. shoppers running up credit card debt again, retailers are hopeful that consumption of retail goods and services will continue to build in 2016. Shopping center landlords in turn are hopeful demand for physical retail space remains strong, with demand expected to outpace an escalating but still modest level of new store construction and deliveries in 2016... Read more »
The Arizona Department of Transportation has selected a preferred developer for the Loop 202 South Mountain Freeway, which remains on track for construction to begin in summer 2016 as the largest-ever highway project in the state... Read more »
Standing on the corner of Shea Boulevard and 32nd Street in north Phoenix, it’s hard to imagine the solid flow of traffic northward on 32nd Street is only about a third of what it once was. Looking at the many vacant storefronts and aging facades, it’s hard to imaging this area as a bustling retail center where dozens of businesses thrived for decades... Read more »

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