Commercial Real Estate & Business News – August 31, 2020
More California Property Investors Eye Arizona in Pandemic for Lower Costs and TaxesIn recent years, Scottsdale, Arizona-based commercial real estate broker Ari Spiro estimates that roughly one-third of his calls have been from California property investors interested in buying Arizona offices, shopping centers, warehouses and apartments. But that interest…» Massive 320-acre Legacy Sports Park Coming […]
Commercial Real Estate & Business News – August 28, 2020
Freddie, Fannie Keep Capital Flowing to Multifamily BorrowersFreddie Mac and Fannie Mae are on track to lend nearly as many dollars to apartment properties in 2020 as they did in 2019. They have even loosened rules created in the early months of the COVID-19 crisis that required new multifamily borrowers keep enough reserves on hand […]
Commercial Real Estate & Business News – August 27, 2020
New Developer Throws Vision for South Phoenix Cultural Plaza into LimboThe banks of the Salt River were once a dumping ground for trash and abandoned vehicles. Now, they’re blooming with restored riparian habitats and plans for community and recreation spaces. One of these spaces – 83 acres between Seventh and Central avenues owned by CEMEX…» […]
Commercial Real Estate & Business News – August 26, 2020
Home Price Index Hits New High in June; Phoenix Growth Still off the ChartsOnce again, Phoenix is No. 1 in the nation in home price growth, with year-over-year price increases of 9% in June, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Phoenix price growth far outdistances the next two […]
Commercial Real Estate & Business News – August 25, 2020
Office Pricing Gets Murkier Waiting for RecoveryOffice properties are performing better than one might expect during the pandemic thanks to attractive locations, diverse tenant bases, and long-term lease structures. However, all that is set to change unless there is a “full and soon” recovery in the greater economy. In the meantime, price discovery…» Data Center […]
Commercial Real Estate & Business News – August 24, 2020
Will COVID Shake Loose Large Portfolios?As the economic ramifications of the COVID shutdowns start hitting large property owners, Michael T. Fay, principal, managing director and global head of Avison Young’s asset resolution team, wonders if bigger deals are on the horizon. “I think we’re going to see some…» Single-family Rental Market to be Undersupplied Over […]