Commercial Real Estate & Business News – January 22, 2015

The outlook for the retail industry looks bright, with lower prices at the pump and decreasing unemployment boding well for consumer spending. Retail sales are expected to rise 4.5% in 2015, which is about one percentage point stronger than 2014 growth, according to a report by Kantar Retail, whose analysis excludes automobile dealers, and gas and food service… Read more »
Commercial real estate investors are flocking to secondary and even tertiary markets in search of yield. This is due to a variety of factors, including an overall low yield environment and risk complacency. In addition, similar to the Federal Reserve “crowding” investors out of Treasuries into higher yielding investments, foreign buyers of U.S. commercial real estate are “crowding” domestic investors out of gateway office markets into higher yielding secondary and tertiary markets… Read more »
Raymond Torto, Harvard University lecturer and recently retired CBRE global chief economist, and Douglas Poutasse, executive vice president and head of strategy and research at Bentall Kennedy, cited three positive real estate trends in their remarks at the Counselors of Real Estate annual convention in Boston last fall… Read more »
A company formed by ConAm Group of Cos. paid $33 million ($90,659 per unit) to buy the 364-unit Pointe at South Mountain apartments located at 8809 S. Pointe Parkway East in Phoenix. The seller was CH Pointe at South Mountain Communities LLC, a company formed by ColRich… Read more »
Palisades Capital Realty Advisors LLC has added to its fast growing Valley office portfolio with the purchase of a property in Old Town Scottsdale. A company formed by Palisades Capital Realty Advisors paid $34.5 million ($234.13 per foot) to buy the 147,356-square-foot building, which is at 4141 N. Scottsdale Road… Read more »