Commercial Real Estate & Business News – March 14, 2016

The Federal Reserve won't raise interest rates this week, but will likely make clear that as long as U.S. inflation and jobs continue to strengthen, economic weakness overseas won't stop rates from rising fairly soon. That will be a big change from the last time the Fed met, when uncertainty over the impact of slower growth in China and Europe drove policymakers to signal it would stay on hold until it could make a better call on the outlook...Read more »
Now that the first quarter is almost over, retail property owners have had a chance to assess how well property valuations performed in the fourth quarter, and what trends await them in the years ahead. Average retail cap rates, which had been on a steady decline since the recovery, might be heading for flat terrain, according to the Moody’s /RCA Property Price Index. For the month of January, the retail sector saw its first monthly price declinein six years, according to Moody’s/RCA report... Read more »
At housing conferences, its common to hear apartment owners or developers talk about how baby boomer demand in certain projects has surprised them. That theory is often cited in the media as well. But Patrick Simmons, director, strategic planning, economic and strategic research, the baby boomer cohort isn't what's driving apartment demand... Read more »
From the ashes of an abandoned South Scottsdale parking lot and a long-derelict nightclub may rise a new multi-family and retail mixed-use development. The nightclub – formerly Polly Esther’s Culture Club, a 70s and 80s themed dance club, which opened around the turn of the century and has sat vacant since 2003 – will be razed to make way for a four-story, 170-unit, 160KSF apartment complex with retail and underground parking...Read more »
A California cafe has announced franchising plans for four cities in Maricopa County. San Ramon, Calif.-based Vitality Bowls is currently in seek of franchisees in order to expand to locations in Phoenix, Scottsdale, Glendale and Mesa, tapping essentially every corner of the Valley... Read more »

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