Commercial Real Estate & Business News – February 10, 2015
Analysts Bullish on US CRE in 2015 The report entitled “Expectations & Market Realities in Real Estate 2015—Scaling New Heights” states that while challenges remain, the prevailing trends of strong demand, improving real estate fundamentals, and continued low interest rates that buoyed the markets in 2014 will continue for the near term… Read more » US Housing […]
Commercial Real Estate & Business News – February 9, 2015
Phoenix Construction Costs Expected to Rise On February 5, Mortenson released its quarterly Construction Cost Index report for Phoenix along with five other metropolitan areas in the U.S. According to the report, non-residential construction labor, material and equipment costs in the greater Phoenix area are forecasted to increase 3% in 2015.While costs fell in the […]
Commercial Real Estate & Business News – February 6, 2015
U.S. Hotel Sector Set for Stellar Performance in 2015 Despite some unknowns when it comes to travel?including currency exchange rates and political troubles abroad?the hotel industry?s comeback should continue throughout 2015, says Jan D. Freitag, senior vice president of STR, a global provider of research to the hotel industry based in Hendersonville, Tenn. The U.S. […]
Commercial Real Estate & Business News – February 5, 2015
Borrowers Rush to Refi, Helping Drive Competitive Pressure in CRE Lending Remember the ‘extend and pretend’ strategy many lenders adopted in the wake of the Great Recession when commercial property values plunged almost overnight putting a lot of borrowers under water? The bulk of those loan extensions started coming due in 2010 around the same […]
Commercial Real Estate & Business News – February 4, 2015
Target Focusing on Smaller Urban Stores for Growth in 2015 Following its announcement two weeks ago that it was abandoning its short-lived effort to establish a foothold in Canada, Target Corp. announced plans to open 15 more U.S. stores this year. Target is expanding three distinct store formats but the bulk of them will be […]
Commercial Real Estate & Business News – February 3, 2015
RK Properties Adds To Multi-family Holdings…Drops $23.25 Million For 160 Units A company formed by RK Properties in Long Beach, Calif. (William Rance King, Jr., mgr.) paid $23.25 million ($145,313 per unit) to buy the 160-unit Azure Creek at Tatum Ranch apartments at 29862 N. Tatum Boulevard in Phoenix. The seller was Sunstone Azure LP, […]