Commercial Real Estate & Business News – January 27, 2016

Fannie Mae and Freddie Mac expect to break more records this year in their lending on multifamily properties. That means both agencies will have to keep up the tremendously busy pace they set in 2015. “I think our activity is going to be higher in 2016 than last year,” says John Cannon, senior vice president of multifamily production, sales and marketing for Freddie Mac... Read more »
Metro Phoenix office market posted its strongest quarter of absorption in since 2005 with 1.5 million square feet during fourth quarter 2015. The year closed with a total 2015 absorption of 3.3 million square feet and occupancy growth in 17 of the 22 metropolitan submarkets during the fourth quarter. Vacancy in Phoenix closed the year at 18.7%, down 20 basis points from the previous quarter and down from 19.1% at year-end 2014... Read more »
The company behind Cold Beers and Cheeseburgers and Wasted Grain is opening two restaurants in Old Town Scottsdale. Scottsdale-based Square One Concepts is planning to open Crab + Mermaid Fish House at 4218 N. Scottsdale Road. Shortly after, sometime in the second quarter of 2016, Bourbon & Bones Chophouse & Bar will open next to the seafood restaurant at 4200 N. Scottsdale Road... Read more »
Three cities west of the Mississippi have reached new all-time highs for home prices, S&P Dow Jones Indices saidTuesday. Dallas, Denver and Portland, OR reached new peaks as home prices in all 20 cities measured by the S&P/Case-Shiller Home Price Indices increased this past November after seasonal adjustment. The 5.3% annual increase in the US National Home Price Index was the highest since July 2014... Read more »
A $50 million, exclusive condominium project, Easy Street, is coming to Carefree with plans to break ground in June to be finished by the Fall of 2017. Easy Street will feature 44 luxurious, amenity-stocked condos ranging in price from $600,000 to $2,500,000. The project features some of Arizona’s most scenic mountain views and a resort-level lifestyle that’s completely new to the Desert Foothills north of Scottsdale... Read more »

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