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Commercial Real Estate & Business News – August 16, 2017

Sunshine, affordable housing and lower taxes are drawing more Baby Boomers to Arizona. Many in this huge group don’t want to retire like their parents but are picking the same state to do it in. A couple of new rankings show Arizona, and particularly several Valley cities, are the most popular for Baby Boomers to move to after they stop working full time…»
WASHINGTON, DC-Builder confidence in the market for newly-built single-family homes rebounded in August, rising four points in August to a level of 68 on the National Association of Home Builders/Wells Fargo Housing Market Index. All three HMI components have posted gains for this month. The component gauging current sales conditions rose four points to 74 while the index charting sales expectations in the next six months jumped five points to 78…»
At 2017’s halfway mark, mall REITs continue to manage the fallout from anchor store closures, in-line tenant bankruptcies, single-digit NOI growth and a stock market determined not to overvalue their underlying properties. Regional mall REITs delivered a negative year-to-date return of 11.7 percent, according to NAREIT’s analysis of how 30 retail REITs performed by July 31. However, mall REIT’s chief executives remained optimistic that they still had solid strategies to deliver value to shareholders…»
For years, apartment owners having been trying to get out of the package business. The long-rumored Amazon entry into the package locker business could offer them that opportunity. Last week, Endgadet’s Mariella Moon reported that Amazon is launching its package locker solution, called The Hub, for apartment owners. To access packages, residents will enter a pickup code onto a digital screen and a corresponding door with the package will open…»
A monthly index of builder sentiment rose 4 points to the highest level since May. The National Association of Home Builders/Wells Fargo Housing Market Index now stands at 68. Anything above 50 is considered positive sentiment. The index was at 59 last August. Builder sentiment had jumped to a cyclical high in March, following a move by the Trump administration to ease water regulations…»