Commercial Real Estate & Business News – April 28, 2017

The U.S. office vacancy ticked up 0.1% in the first three months of 2017 to 10.3% marking the first quarterly increase since 2010. Total net absorption in the US office market slipped approximately 9% from the same period a year ago as developers added an additional 19 million square feet of new office space across the country. …»
Not one but two Wall Street sharpshooters have announced plans to sponsor new commercial mortgage-focused real estate investment trusts, seeing opportunity in the growing demand for nonbank lenders from real estate investment borrowers.…»

Wells Fargo & Co. (NYSE: WFC) and highlight the list of the top commercial offices leases in the Phoenix region during the first quarter. Wells Fargo leased 115,394 square feet in Chandler at Price and Queen Creek roads. The San Francisco-based bank has a big campus Chandler. Indeed Inc……»

Neither a border adjustment tax, which would have a significant impact on the retail sector, nor changes to the way carried interest is taxed, which would affect real estate partnerships, were mentioned in the new plan. …»
The multifamily sector has experienced tremendous growth and innovation over the past several years. Driven by strong resident demand, the market continues to see increased amounts of apartment construction throughout the country. As a result, the competition keeps intensifying…»