Commercial property price indices continue to bear out the idea that the price appreciation the industry has enjoyed since 2010 is over. The Moody’s/RCA’s all-property CPPI, for example, registered a 0.2-percent decline in February, after a 0.3 percent decrease in January—the first such drop in six years. The greatest decrease came in the office CBD sector, where prices dropped by 1.1 percent (Moody’s/RCA also recorded a 0.9 percent decrease in prices on industrial assets)… Read more »
“The problems of CMBS are starting to filter down,” asserts Ralph Cram, president & managing member, Envoy NNN. “About $200 billion of loans are coming due by the end of 2017 and they either need to be resold or re-financed; banks are stepping into that”… Read more »
The tightest office markets in the Valley are in south and Old Town Scottsdale, the 44th Street corridor, Arcadia and other areas of east Phoenix… Read more »
January’s college football championship game had a $274 million impact on the economy and helped the state land several new employers, officials said Wednesday… Read more »
Valley Metro transit planners are re-examining a light-rail route to downtown Glendale after City Council members expressed concerns that the regional transit agency’s proposed seven-mile line may not go far enough…Read more »