Commercial Real Estate & Business News – August 14, 2015

With CRE property values near or exceeding their eight-year-ago peak valuations, several restaurant chains have cooked up plans to cash out on some of their owned eateries. This past week, Wendy’s International Inc. and Bloomin’ Brands, owner of Outback Steakhouse, Carrabba’s Italian Grill and Bonefish Grill among others, have joined other restaurant chains in announcing plans to sell hundreds of their owned restaurants… Read more »
A promising climb in home sales throughout the country amidst insufficient supply caused home prices to steadily rise in most metro areas during the second quarter, according to the latest quarterly report by the National Association of Realtors. The median existing single-family home price increased in 93 percent of measured markets, with 163 out of 176 metropolitan statistical areas (MSAs) showing gains based on closings in the second quarter compared with the second quarter of 2014… Read more »
Stein Mart will open a new store near Paradise Valley this fall. The department chain’s latest Arizona location is scheduled to open on Oct. 22 in the Paradise Valley Shopping Center at Cactus Road and Paradise Village Parkway, according to a company press release. “The Phoenix area has been one of our very best markets and we look forward to serving our many customers there with another convenient location to shop,”… Read more »
A third quarter Sentiment Index just released by The Real Estate Roundtable, a public policy organization, shows that senior CRE executives’ expectations for the commercial real estate market over the next 12 months are becoming more moderate than they were a year ago. The Roundtable’s Overall Sentiment Index, researched in July, came in at 61 on a scale of 1 to 100, where 100 would indicate that all survey respondents felt that current market conditions are “much better”… Read more »
Looking for another way to live out your urban lifestyle fantasy in downtown Phoenix?Head on over to the heart of the city at 3131 N. Central Ave., just across from the city’s iconic Park Central Mall. That’s where you’ll find a patch of longtime vacant land will soon be taking shape as Edison Midtown, a new $40 million, seven-story condominium project offered by Scottsdale’s own Deco Communities… Read more »