U.S. commercial property pricing indices reached new historical highs in September, driving continued growth across all regions and property in the third quarter, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI) release.
There is no question that the mountain of CMBS loan maturitieshanging over the commercial real estate market has been shrinking. Yet there is still a heavy load of high-leverage loans searching for refinancing capital at a time when the CMBS market is battling its own liquidity crunch.
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).
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.
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.
Reversing a long-term trend, cap rates for single tenant CVS, Rite Aid andWalgreens 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
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
With the pace of apartment rental growth moderating in recent months, it stands to reason that eventually the average rent would begin ticking downward on a month-to-month basis. That began happening in September and continued with October
September not seasonally adjusted (NSA) construction unemployment rates improved in 32 states and the nation on a year-over-year basis, according to analysis released Monday by Associated Builders and Contractors (ABC).
Scottsdale’s eminent-domain lawsuit against a local tennis club owner who refused to sell property for a fire station is headed to the Arizona Court of Appeals after a Maricopa County judge ruled that Scottsdale can take “immediate possession” of the land.
Arizona taxable retail sales out-paced the national average by a factor of eight for fiscal 2016 ending June 30. While retail sales across the U.S. were up 0.6 percent for Fiscal Year 2016, Arizona is boasting a 5.3 percent jump in retail sales.
When will the homeownership rate bottom out? It’s a good question without a definite answer, but obviously we haven’t found the bottom yet. The most recent reading of 62.9% matches the historical record-low set back when the government first began tracking these data
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.
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.
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.
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
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
For three decades, Arizona State University has worked to fill its south Tempe Research Park with big-name companies, swarms of employees and glittering recreational spaces. It’s been “highly successful,” according to ASU — so successful that the 320-acre park is running out of space.
Big national real estate developer Hines Interests LP is looking at buying a city block of downtown Phoenix land at Central Avenue and Fillmore Street. The property is on the northeast corner, north of Arizona State University’s downtown campus.
A recent survey of commercial real estate brokers by Arizona State University’s W. P. Carey School of Business shows a slow and steady recovery continuing for at least another six months. Experts say the Phoenix-area commercial real estate market is on solid ground
The Arizona Center — which has seen its ups and downs and changes in ownership since first being developed in 1990 — will undergo renovations starting next year. The makeover could open the downtown development to new projects. That could include apartments or condos.
The residential building boom continues in Phoenix, from urban apartments to houses targeting first-time homebuyers. Construction is rising in areas of the city from midtown to north Phoenix, and many projects are well underway. Several others broke ground this fall.
WINLEE Development, the real estate development division of locally based investment firm Winfield Lee Investments, commenced construction this week on Chandler Viridian PrimeGate at Fashion Square
The second-largest multifamily property sale of 2016 was not for a trophy tower in Manhattan, San Francisco or another of the prime ‘gateway’ markets traditionally favored by big investors. Rather, it was The Breakers Resort, located in a Denver submarket
Iconic Mesa citrus groves could be flattened for proposed Falcon Field tech center A cutting-edge business park focused on medical research and technology could soon occupy a 63-acre swath of land at Mesa’s Falcon Field Airport, bringing new, high-wage jobs to an already prosperous part of town. But pushing forward with the vision for the “Falcon Tech Center” will mean […]