Commercial Real Estate & Business News – August 10, 2016

CBRE Group, JLL, Colliers International and Marcus & Millichap reported strong transaction activity at mid-year 2016, with most of the publicly traed brokerages reporting solid increases in U.S. leasing and sales in spite of investor skittishness due to Brexit concerns that have caused deal delays and cancellations across the pond in the UK and Europe. …»
Lenders of all types keep making loans on apartments properties-often beating the records set last year. “So far, it’s been a very robust year-another kind of record half for us,” says David Brickman, executive vice president and head of the multifamily business for Freddie Mac.…»

Tempe is set to build its first apartment housing aimed at veterans and their families near Arizona State University. The Tempe City Council unanimously approved a development agreement on Aug. 4 to build Valor on Eighth, a five-story building with 50 apartments…»

For office tenants able to think outside of the big box, Arizona’s lingering retail vacancies can equate to major opportunities. Such is the case with the recently completed renovation of the Tucson Galleria-a $16.4 million effort…»

Today, more than ever, middle-class Americans are struggling to find the housing they need. Traditionally, the American workforce bought single-family homes in the suburbs, but changes in the economy have driven more people to rent instead of buy.…»