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Commercial Real Estate & Business News – November 2, 2016

November 2, 2016 by Nick Miner, CCIM   No comments   Filed Under: Daily News

Rusty Lyon, Arizona Mall Developer, Dead at 86
The next time you are shopping at Scottsdale Fashion Square, having dinner at the Arizona Biltmore or dropping your kids off at Chandler Fashion Center, thank Rusty Lyon. He’s the visionary developer who saw metro Phoenix’s growth coming and launched…»
Drug Store Cap Rates Jump, Reversing Long-Term Trend
Reversing a long-term trend, cap rates for single tenant CVS, Rite Aid and Walgreens properties all increased significantly in the third quarter of 2016, according to a new report by the Boulder Group, a net lease firm in suburban Chicago…»
Fellowship Square to Break Ground on $65M Senior Facility

Christian Care, which operates a handful of retirement communities in Arizona, is set to break ground in a couple of weeks on a $65 million senior housing facility in Surprise. Plans call for hiring 85 full-time and 20 part-time employees for new facility at 16477 W. Bell Road for a summer 2017 opening.…»

Fannie Mae, Freddie Mac Share of MF Lending Shrinking in 2016
Fannie Mae and Freddie Mac have seen their combined share of multifamily lending decrease this year to 44% – down from 52% in each of the preceding three years, according to analysis of data by Fannie Mae. …»
Nonresidential Construction Spending Drops in September
Nonresidential construction spending fell 0.9 percent from August to September 2016, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). …»

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Nick Miner, CCIM

ORION Investment Real Estate
7150 E. Camelback Road
Suite 425
Scottsdale, AZ 85251

480-226-8037
nick@nickminer.com

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