Commercial Real Estate & Business News – March 3, 2017

With a commercial real estate executive now in the White House, more than two-thirds of the CRE executives (69%) surveyed by law firm Seyfarth Shaw said they expect President Trump will have an overall positive impact on commercial real estate in 2017. Rising interest rates continue to dominate concerns for U.S. commercial real estate executives in 2017...»
Bell Road in Surprise is split down the middle by a slim line of palm trees and dozens of chain restaurants and big-box stores on either side. Homegrown, independent businesses are fewer and farther between. Metro Phoenix has non-chain restaurants reminiscent of those in her hometown, but they're mostly in areas such as Tempe and Scottsdale ...»
The first release of CoStar Commercial Repeat-Sale Indices (CCRSI) data for 2017 showed pricing of lower-priced CRE properties moving back into positive territory during January, helping offset an ongoing deceleration in pricing among larger assets in core U.S. markets. The equal-weighted U.S. Composite Index advanced by 1.4% during January, reversing a 1.4% decline the previous month...»
Lincoln Property Co. has bought a Class A office property on Camelback Road in Phoenix for $24.56 million. LPC bought 2777 Camelback from DRA Advisors/Fountainhead Equity Partners. The 104,618-square-foot office project is located near 28th Street and Camelback Road in one of Arizona's top commercial corridors....»
Preferred Apartment Communities Inc. has announced the acquisition of a student housing community adjacent to Arizona State University in Tempe. The company purchased the 225-unit, 640-bed campus asset through its wholly-owned subsidiary Preferred Campus Communities LLC. "We believe this property is a premier, well located student housing asset, providing residents with immediate access to the Arizona State campus...»

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