Commercial Real Estate & Business News – June 15, 2016

More than a dozen companies have either moved to Glendale or expanded in the city this year, a surge that economic development officials largely attribute to the West Valley city's increasing population and transportation infrastructure....»

Barbells in weight training can be beneficial; barbells in CMBS deals, not so much. A new report from Fitch Ratings sees the practice of barbelling-wide dispersion of credit risk within a transaction-becoming more common in commercial mortgage securitizations, with negative implications for the long term....»

More than 2,000 sleepy acres of Casa Grande-area farmland could be transformed into a $500 million motorsports complex with full-size race and test tracks for cars and motorcycles, luxury homes and a private airport in the next five years. Construction on "Attesa" - billed as a massive regional economic engine by both city and Pinal County officials - could begin as soon as next...»
Investors are still eager to buy apartment properties, but they just aren't as eager to pay quite so much for them. "Deal volume is pulling back as buyers and sellers are simply moving further apart on pricing expectations," says Jim Costello, senior vice president with New York City-based research firm Real Capital Analytics (RCA)...»

Apparently, it's as true in economy as it is in psychology. The best predictor of future behavior is past behavior. Standing at roughly the mid-point of 2016, it seems that what we've gotten so far this year is what the rest of the year will shape up to be. Now, as you might remember from my January column, I was pretty confident that 2016 would be a robust, breakout year for the market, based in large part on the growth that I was seeing in my own precincts...»

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