Commercial Real Estate & Business News – December 11, 2013

A surging stock market and a steady recovery in home prices drove Americans’ wealth to a record last summer. The nation’s wealth rose 2.6% from July through September to $77.3 trillion, the Federal Reserve said Monday. Household wealth has been rising gradually since bottoming at $57.2 trillion in 2008… Read more
Industry experts project that some of the largest metro areas will see some of the largest rent growth next year. Seattle will continue to grow in 2014 and is expected to see the largest percent change in rents, according to Carrollton, Texas-based MPF Research. San Francisco will push rents by… Read more
Fox Restaurant Concepts wants to get Phoenix juicing. The Phoenix-based restaurant group plans to rapidly expand its new Juby True juice bar concept in the coming months. Following last month’s opening of the first Juby True at the Scottsdale Quarter True Food Kitchen… Read more
Big-box distribution real estate remains a hot segment of the U.S. industrial market, with demand steaming ahead for 2014. This is a big driver behind the 96.7 million sq. ft. of new industrial construction presently underway – roughly half of which is speculative development with no pre-leasing by tenants… Read more
TriTex Real Estate Advisors II, Inc. of Atlanta, Ga. has paid $5.5 million for the sale of Biltmore Vista Townhomes, located at 2323 E. Flower St. in Phoenix. The property was owned by LWH AZUL 24, dba Sheiner Group, of Westmount, Quebec, Canada. The property, which was built in 1973, contains 114 units and was 93 percent occupied… Read more