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Commercial Real Estate & Business News – February 13, 2015

Investors both large and small remained intently focused on commercial real estate last year, as pricing levels rose in tandem with occupancies, vacancies remained near cyclical lows, and rent growth posted healthy gains across property sectors and regions… Read more »
Retail sales (excluding automobiles, gas stations, and restaurants) will increase 4.1% in 2015, up from 3.5% in 2014, according to the National Retail Federation’s 2015 economic forecast. The increase would mark the biggest annual growth since 2011 when retail sales for the year increased 5.1%. Non-store sales in 2015 are expected to grow between 7% and 10%… Read more »
With more housing bust markets like Phoenix, Las Vegas, the Inland Empire and Sacramento continuing to gain jobs and economic strength, retailers absorbed about 13 million square feet of neighborhood and strip shopping center space in 2014 — double the lev of demand of the previous year — and retail vacancies have fallen below 10% for the first time since the recession in 2008… Read more »
The current state of the startup ecosystem in Phoenix is like a popcorn bag that’s spent 60 seconds inside a hot microwave. One minute has passed, but only a few pops are audible. Soon, though, a flurry of kernels will heat up just enough to elicit multiple explosions all at once, joining those that have already matured into white fluff…Read more »
The downtown building was purchased for $22 million last year by Rialto Capital and Phoenix-based Ironline Partners, according to CoStar. They have undertaken some improvements and are looking to attract new tenants. They are also open to a naming rights deal for the building… Read more »