Commercial Real Estate & Business News – March 14, 2017

Private investors accounted for nearly 30 percent of all transaction volumes in 2016, with particular interest in residential and commercial properties in some major U.S. cities, according to Knight Frank's latest wealth report. As an investor class, private investors-including ultra-high and high-net-worth-individuals, as well as various kinds of family offices-are now major drivers of CRE transactions, both domestically and abroad, according to the 2017 Knight Frank Wealth Report, which was released this March...»

Although apartment sale prices have more than doubled since 2010, market forecasts predict that rent declines are on their way in many cities. Many publicly traded REITs have pulled away from multifamily, and aggregate U.S. multifamily loan volume fell 2% year over year for the 12 months ending on Sept. 30, 2016, according to Banking Exchange...»

After a strong start to the year, construction continues to see rising employment, as the industry added 58,000 jobs in February - the strongest recorded level since March 2007 - the Bureau of Labor Statistics reported Friday. The month's total construction employment of 6,881,000 represented a 219,000 - 3.3% - increase from February 2016...»

Single tenant net lease properties remain a hotbed of activity in the commercial real estate industry. And market fundamentals point to continued strength in the sector. Yet sentiment has begun to soften ever so slightly based on the responses to NREI's second annual exclusive survey of the net lease real estate sector, which was conducted in February. Rising interest rates and general economic uncertainty remain concerns, as does the lack of stability in Washington emanating from the chaos of the new Trump administration...»

Feeling happy? If not, you might want to move to Scottsdale or Gilbert. The two East Valley cities are the highest-ranking Arizona cities on WalletHub's list of happiest cities. Scottsdale and Gilbert are two of the happiest cities in America, according to a new ranking from WalletHub. Scottsdale came in at No. 13 while Gilbert wasn't far behind at No. 16...»

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