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, […]
Commercial Real Estate & Business News – February 2, 2015
Market Trend: Phoenix Retail Vacancy Decreases to 9.8% The Phoenix retail market experienced a slight improvement in market conditions in the fourth quarter 2014. The vacancy rate went from 10.1% in the previous quarter to 9.8% in the current quarter. Net absorption was positive 819,805 square feet, and vacant sublease space decreased by negative 25,345 […]
Commercial Real Estate & Business News – January 30, 2015
On a Roll, U.S. Office Market Demand Expected to Stay Strong Through 2016 With vacancies falling and rents rising in growing numbers of submarkets and slices within the U.S. office sector, demand for office space is expected to remain at post-recession highs for the next two years, according to CoStar Portfolio Strategy analysts recapping the […]