Commercial Real Estate & Business News – February 19, 2016

Although life companies are known for playing it safe when it comes to lending on commercial real estate, that narrow box hasn’t stopped them from doing big business in the space lately. Many life companies reported robust lending volumes in 2015 and the expectation for the coming year is for commercial real estate lending to surpass those volumes… Read more »
Last year saw strong demand for multifamily properties. This year will bring more strength, but the sector will start experiencing increasing vacancy. As 2016 ramps up, multifamily investors will need to carefully consider which markets will stretch their dollar the furthest… Read more »
Phoenix-based IO Data Centers LLC is planning a big campus expansion next to its Phoenix data center with a three-story, $400 million to $500 million project during the next six to eight years. IO bought nine acres of land for $8.55 million south of its current Phoenix data center off 48th Street and Loop 202… Read more »
Grand Canyon Education Inc. (Nasdaq: LOPE) is in the midst of $180 million in construction projects on its Grand Canyon University campus, but has a total of $550 million planned over the next four years. Projects underway include three residence halls, which will bring the total number of residence halls on campus to 17. Two parking garages, a second engineering building, a four-story student service center and a 3,000-seat soccer stadium also are under construction on the Phoenix campus… Read more »
Phoenix homes sold in January at the highest volume since 2013, and third highest since 2006. 2016 has long been expected to be a banner year for Phoenix real estate, which was badly scarred just a few years ago during the financial crisis. Nearly seven years of no new-home construction has resulted in a seller’s market fueled by the lack of inventory rather than increased demand by buyers. Unfortunately, many of the home builders are still licking their wounds from the housing crash. Those who are ready to build again are struggling to find desirable land for sale… Read more »