Commercial Real Estate & Business News August 30, 2019

The Retail Apocalypse Isn’t What You Think it is When well-known retailers close large numbers of stores, it makes us take notice. Parents couldn’t miss it when Toys R Us went bankrupt. Whether or not you’ve shopped at a Sears lately, you certainly know it has shrunk massively and that J.C. Penney, Barney’s, and other stalwart brands have shuttered many of their locations. Some chains are…»
Scottsdale Approves Contentious 150-Foot-Tall Office Building in Old Town
The Marquee, a proposed 271,000-square-foot mixed-use office building near Scottsdale Road and Shoeman Lane in Old Town Scottsdale. It’s been called a monster. It’s been called the Titanic. Others say its controversial design is worth the opportunity to give major companies a downtown office address. On Tuesday, Scottsdale…»
The Tech Engine Continues to Churn Out More Office Demand
If there was any wonder as to what has driven commercial and economic growth in the Bay Area during the last decade, a look at office gross leasing stats should make it perfectly clear. Not surprisingly, it is the tech industry. But what may be surprising is that the tech world has leased more office space than all the other major…»
Phoenix Votes Down Proposition 105, Keeping Light Rail Alive and Well
Phoenix voters made their support for light rail clear this week by voting down Proposition 105, which would have terminated all planned expansions of light rail and remove funding for rail construction indefinitely. The special election resulted in 62% of voters turning down the measure in the initial count, a move that supports future…»
Borrowers in the Multifamily Sector Are Increasingly Looking for CMBS Loans
CMBS lenders may be gaining in popularity with multifamily borrowers as Freddie Mac and Fannie Mae slow down in the race to make loans on apartment properties. “Freddie Mac and Fannie Mae increased the borrower spreads dramatically,” says Mitchell W. Kiffe, co-head of national production for the debt & structured…»