Commercial Real Estate & Business News – August 17, 2017

Office building owners and developers pondering how to bridge the urban-suburban gap may want to set their sights on what you might call “urb-suburban” settings. What’s urb-suburban? It’s one way to describe the mash-up of suburban office locations in walkable settings with easy access to urban-style amenities like transit, housing, restaurants and retail. Owners and developers of suburban offices that fail to embrace the urb-suburban vibe might find it harder to justify new projects…»
When college students come back to campus for the fall, they are focused on reconnecting with friends, stocking up on school supplies and learning their class schedules. But for landlords, the days leading up to the start of the semester are a hectic whirlwind as they undertake the herculean task of preparing a large apartment building for a surge of simultaneous move-ins. In a typical multifamily building, property managers gradually move tenants in and out throughout the year…»
The Standard has sold for $43 million. The complex has 134 units. That translates into $320,896 per unit. That’s a record in the Phoenix market, according to BREW. The buyers are a Hollywood-based group called Studio Management Services Inc. bought the Scottsdale complex from a joint venture called PBB-TRG Valley Ho LP. The entity buying the Scottsdale apartments has ties to the family of the late Jack Singer, a well-known Canadian developer and businessman…»
TORONTO-Office fundamentals across 64 major markets in the Americas and Europe remain solid, with nearly two-thirds of the metro areas seeing year over year vacancy declines, according to Avison Young’s midyear report on the sector. However, these markets are also feeling the effects of disruptive trends. “The office sector and commercial real estate, in general, are not immune to the effects of globalization and technological innovation,”…»
The restaurant business has always been fickle. Capital-intensive, heavily leveraged, and highly sensitive to ever-changing consumer desires, restaurants often find themselves straddling the line between profitability and vulnerability. Over the past 24 months in particular, the restaurant industry has seen its fair share of headlines ranging from bankruptcy announcements to store opening announcements…»