Commercial Real Estate & Business News – January 2, 2015

HAPPY NEW YEAR!

CoStar's award-winning journalists covered the biggest stories in commercial real estate in 2014, providing timely reporting and insightful views on the major trends and transactions that shaped the industry throughout the year. In addition to covering the biggest transactions, financings and major new developments, we kept a particular focus on the ongoing changes sweeping through the brokerage business.... Read more »
Like their baby-boomer parents before them the millennial generation appears to be starting to drive parts of the housing market. While their delay in forming households and buying homes has been the subject of much comment and research, RealtyTrac says they now appear to be impacting rentals. The California company recently released an analysis of fair market rents and median home prices in over 500 U.S. counties...Read more »
While demand for apartments remained strong across most markets in 2014, office demand remained rather spotty, with traditional office strongholds such as Manhattan and Washington DC struggling while tech and energy hotspots such as San Francisco, Houston and Denver experiencing explosive growth in the office sector...Read more »
Apartment rents have dropped in the Phoenix metro area even as more new units are entering the market. Still, the RealtyTrac real estate research firm said it's a better deal to buy a house under current conditions than it is to rent an apartment. That's if a borrower can qualify for a mortgage. Three-bedroom apartments rented on average for $1,338 per month in Phoenix during this fiscal year... Read more »
A company formed by Snyder Nationwide Real Estate Inc. in Scottsdale (Mark Snyder, pres.) paid $34 million ($108,974 per room) to buy the 312-room Chaparral Suites hotel located at the northeast corner of Scottsdale and Chaparral roads in Scottsdale. The sellers in two transactions were entities formed by the Silverman family in Scottsdale... Read more »

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