Commercial Real Estate & Business News – October 31, 2016

HAPPY HALLOWEEN!

If you're in the need of a shopping spree - cue '80s music montage in the dressing rooms - then you're more than likely not going to Scottsdale. Shopping is the most-frequently participated in activity for both overnight and day-trip domestic visitors to the city...»
At its peak in 2007, the CMBS market was booming, with 23 issuers delivering some $250 billion in funds. In 2015, there were 46 companies issuing just $130 billion. Projections for the coming year are even more dire, due in part to market volatility and the looming rollout of risk-retention rules that require CMBS issuers to hold...»

Driven this year by solid office demand growth in Sunbelt markets across the country, the national office occupancy rate is expected to increase into 2018 as such metros as Phoenix, Los Angeles, Atlanta and Miami enjoy net job growth in what's already been one of the most drawn-out U.S. economic recoveries on record. ...»

Blackstone Group LP's Blackstone Real Estate Partners is purchasing a 16-property apartment portfolio in the U.S. from affiliates of Bridge Investment Group Partners. The total price for the transaction, including transactions three of the properties still pending closing, has been reported at $750 million. ...»
New economic realities, post-recession regulations and technological changes are creating profit pressures on financial services firms. And, that's leading to more jobs in Phoenix. It shows banks, insurance companies and other financial firms are moving more into non-traditional markets that offer good value....»

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