Commercial Real Estate & Business News – January 11, 2018

The percentage of NREI readers who believe the current real estate cycle is in expansion/recovery phase has jumped to 41 percent this January, from 26 percent during our last reading in November. At the same time, the percentage of survey respondents who think the cycle is now at its peak took a sharp downward turn, to 45 percent from 59 percent in November 2017...»
Developers are still planning projects with considerable gusto, so it's likely that 2018 will be a strong year for nonresidential development, reports Dodge Data & Analytics. The company's Dodge Momentum Index was up 3.6 percent in December to 153.9 (2000 = 100) from the November reading of 148.6. The index is a monthly measure of the first report for nonresidential building projects in planning...»
The CMBS market is kicking off 2018 with a lot more confidence than was the case a year ago. In 2016, everyone was living in fear of risk retention rules and what they were going to do to the CMBS market, notes Tom Fish, executive managing director and co-lead of the real estate investment banking practice at real estate services firm JLL. People were worried that the new rules...»
Florida-based Avesta Communities has entered the Arizona real estate market with its $58 million purchase of the Coronado Crossing apartment complex in Chandler. The development has 320 units and sits on 19 acres. "Arizona is a great market and the city of Chandler has tremendous potential for growth," says Luke Kline, director of acquisitions...»
Sprouts Farmers Market on Tuesday rolled out grocery home-delivery service to customers in the Phoenix and Tucson areas through a partnership with Instacart that will be extended to other states around the nation. The Phoenix-based chain of stores will offer same-day deliveries in as little as one hour to customers placing orders through computers, tablets and smartphones...»

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