Commercial Real Estate & Business News – December 18, 2013

es Lang LaSalle’s research experts have polished off the firm’s crystal ball and it reveals a clear path to stronger performance expectations for commercial real estate in 2014. The firm’s top researchers believe the “global real estate disconnect” between buoyant investment markets and more cautious leasing markets that existed during 2013, is narrowing in the United States as the nation’s recovery broadly diversifies… Read more
A group of tenant-in-common (TIC) investors paid $32.255 million ($179,500 per unit) to acquire a 80.22 percent interest in the 224-unit San Marquis apartments at 577 E. Baseline Road in Tempe. The buyer was Greenery Arizona LLC, et al., The seller, which has retained a 19.78 percent interest in the multi-family project, was Rural Baseline Apartments LLC… Read more
A new 31KSF three-story medical office building – including an in vitro fertilization clinic – is planned for an undeveloped 2 acre lot in the block surrounded by North 92nd Street, East Shea Boulevard, East Ironwood Square Drive and North 94th Place in Scottsdale… Read more
Home-builder confidence has bounced back this month following a slowdown since the summer. The National Association of Home Builders/Wells Fargo Housing Market Index released today shows builder confidence at 58 this month, up four points from November… Read more
rizona still has nearly the highest percentage of underwater homeowners in the nation, even despite massive improvements over past year, according to CoreLogic research released today. The Grand Canyon state’s negative equity rate was 22.3 percent in the third quarter of 2013… Read more