Commercial Real Estate & Business News February 14, 2019

CRE Lenders Ended 2018 on a Strong Note
A strong fourth quarter lifted commercial mortgage originations by 3 percent in 2018 as multifamily and industrial originations drove investor activity, according to preliminary estimates from the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The MBA released its…»
Yardi: National Rent Remains Flat, YOY Growth Rises to 3.3%
The national average multifamily rent remained at $1,420 in January 2019 while the year-over-year (YOY) rent-growth rate rose 10 basis points (bps), to 3.3%, according to the Matrix Monthly report by Yardi Matrix. The annual rent-growth rate has remained above 3% for the past six months. While U.S. rents have remained…»
Phoenix Retail Real Estate Market Levels Off to Close 2018
The Greater Phoenix retail real estate market began 2018 with impressive sales and leasing but closed out the year with a relatively flat performance in fourth quarter. Retail vacancy dropped 10 basis points during the fourth quarter to 7.3 percent.  The vacancy now rests 80 basis points below a year ago.  The rate has…»
Local Investor Pays $16.5M for Scottsdale Flex Building
New York-based iStar Financial sold a 103,517-square-foot flex building in Scottsdale to a private local investor. North Hayden Commerce Center sold for $16.48 million, or about $159 per square foot. The single-story structure at 14000 N. Hayden Road comprises two drive-in bays and a 26-foot clear ceiling height. Built in 2007, the…»
Entertainment Center with Mini-Golf, Food, Drinks, More Coming to Phoenix
Miniature golf, bowling, karaoke, arcade games, craft cocktails, an eclectic food menu and more, all under one roof? In downtown Phoenix? That’s exactly what Punch Bowl Social has planned for its new location in the Roosevelt Row Arts District. The growing Denver-based entertainment venue expects to open the…»