Commercial Real Estate & Business News December 18, 2018

CBRE Forecasts Solid 2019 for CRE
Although specifics differ widely across sectors, most major categories should continue to benefit from favorable economic conditions. All signs point to a continued expansion of the U.S. economy, which means further success for the commercial real estate sector, according to CBRE’s 2019 Real Estate Market Outlook. The firm’s new report outlines another positive year across the industry’s main sectors…»
Blackstone Sells $40M Phoenix Asset
TH Real Estate acquired the 240-unit multifamily asset, securing $40 million in revenue bond financing from Maricopa County’s Industrial Development Authority. The Blackstone Group has sold The Village at Lakewood, a 240-unit Class B community in Phoenix, for $40.3 million to TH Real Estate, according to Yardi Matrix. The property last changed hands in June 2016,…»
Lennar Turns Office into Luxury Apartments in Phoenix
The Charlotte-based developer is demolishing two class-A office buildings in Scottsdale to build a luxury apartment community. Charlotte-based developer Lennar has acquired two class-A office buildings in the Phoenix sub market of Scottsdale with plans to demolish the two buildings and develop a class-A apartment complex. The project highlights the strong demand for housing in Phoenix,…»
Report Pegs Phoenix As a Top Tech Hiring Market in 2019
Phoenix will continue to be one of the top markets for tech hiring in 2019, according to a new report. Research from staffing services agency Robert Half Technology shows that Phoenix is No. 3 on a list of top markets for tech hiring. That is based on the percentage of local technology managers who expect to expand their employee counts…»
Total Return Growth for All Commercial Property Types Will Slow to 5.7 Percent in 2019, PREA Survey Forecasts
PREA’s latest survey forecasts moderating returns on commercial real estate properties. The results of the latest consensus forecast survey from the Pension Real Estate Association (PREA) show that respondents expect total unlevered return growth on commercial real estate assets traded at the institutional level to moderate in 2019. Respondents expect that total returns…»