Commercial Real Estate & Business News February 20, 2019

Commercial Real Estate Loan Growth Plateaus
Investors and lenders dove into apartment and industrial mortgages in the final three months of last year while retail and office property lending slowed, setting a pattern industry executives expect to extend into 2019. Total commercial and apartment mortgage origination for 2018 rose 3 percent, after a 14 percent surge in the…»
Park Central Sees Flurry of Leasing Activity as Opening Approaches
Park Central is enjoying a flurry of leasing activity as the project pushes closer to its grand opening this spring.  A number of new and renewed leases have been signed for space at the revitalized property, which is nearing completion of its initial redevelopment phase. The project is already becoming a magnetic draw with a…»
Payless to Shutter 2,500 North American Stores
Payless ShoeSource filed for voluntary Chapter 11 bankruptcy protection on Monday and stated that it plans to close all of its North American stores in the US and Canada by the end of May. The company also reported it intends to file for protection for some of its Canadian subsidiaries under the Companies’ Creditors Arrangement Act (CCAA) in…»
Chandler Council OKs $500 Million Bond for Intel
Intel wants to keep the good times rolling in Chandler. The City Council is doing its part to help out. The city last week approved the issuance of Industrial Development Revenue bonds with the computer giant that will give the company access to half a billion dollars in bond money to help with its local expansion and other projects. “It just shows…»
Developer Finishes $16M Phoenix Medical Office Building; Anchor Tenant Jumps on Board
Bursting at the seams at its west Phoenix facility, the Core Institute has moved into larger space nearby on the campus of Banner Estrella Medical Center. Expanding its footprint by 50 percent, Core Institute – which specializes in orthopedics services – has committed to taking 20,000 square feet of the 64,000-square-foot…»