Commercial Real Estate & Business News – January 10, 2017

Apple Inc. plans to assemble servers in the tech company’s large Mesa data center, according to documents made public Monday in the Federal Register. The city of Mesa applied for foreign trade zone status for the facility at Elliot and Signal Butte roads so Apple could manufacture data servers, presumably to be used by other Apple facilities globally.…»
Construction starts are expected to trend lower this year following a 2016 that is shaping up to be both a post-recession peak and an inflection point for development across all the major commercial property types. …»

Located on the outskirts of Old Town Scottsdale and minutes from Tempe, the property is well-situated to serve a dynamic trade area with a strong population base. Selling for $1,492,460, this is a ±4,200 square foot retail redevelopment opportunity. ORION Investment Real Estate represented SimonCRE in leasing the building to tenant Bush’s Chicken…»

Welcome to 2017! It should be quite an adventure economically. The stagnation narrative seems to be over. If President-elect Trump can get most of his economic tax, regulatory and infrastructure plans passed and can stay out of a trade war, growth should accelerate significantly, though likely not until later this year or next.…»
The outlook for the commercial real estate capital markets in 2017 is going to hinge on asset quality. The cost of debt was already starting a sharp rise following the presidential elections in November and an increase in the federal funds borrowing rate in December. The Federal Reserve, and bankers too, are expecting additional interest rate increases…»