Commercial Real Estate & Business News – April 21, 2017

Reflecting what one real estate economist described as an overall sentiment of “restrained optimism,” the latest ULI Real Estate Consensus Forecast sees a more modest rate of commercial real estate transaction from the frenzied pace seen in recent years, and a gradual slowing but still increases in rental rates, occupancy and pricing through 2019. …»
Wednesday night, the Phoenix City Council voted to approve a $50-million deal that will fund design and pre-construction costs for Valley Metro’s expansion in South Phoenix. It’s the latest step towards creating a new offshoot of the light rail, which will run south down Central Avenue, starting at Jefferson Street and ending at Baseline Road. …»

That often repeated narrative that high-cost, high-tax, liberal California is bleeding jobs isn’t actually true. That’s at least according to some new jobs numbers from the U.S. Bureau of Labor Statistics. BLS looked at job gains in the largest 50 U.S. counties in 2015 – the most recent data available. Three California counties – San Francisco, Riverside and San Bernardino – topped the list.…»

An expensive operating model and loss of dominance in the organic food market are major issues grocery chain Whole Foods is facing as it tries to turn around from a year of floundering sales. Yet, despite the “noise” surrounding activist investor JANA Partners’ additional stock purchase in early April, Whole Foods is still viewed as a desirable tenant by shopping center landlords. …»
Apartment profits continued their string of strong performances last year, according to the latest full-year financial data collected on hundreds of thousands of multifamily units. The combined 2016 net operating income at 4,362 conventional multifamily complexes reporting year-end numbers totaled $5.2 billion, according to Fannie Mae and Freddie Mac mortgage-back securities data collected through March and analyzed by CoStar Group. …»