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Commercial Real Estate & Business News January 28, 2019

Institutional Investors Plan to Come Back to Targeting Core CRE, New Intentions Survey Shows
A recent Investor Intentions Survey 2019 compiled by the Pension Real Estate Association (PREA), the European Association for Investors in Non-Listed Real Estate Vehicle (INREV) and Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV) found that institutional investors raised their target allocations to real estate this year to…»
Shaping Up: How Novus Corridor Aims to Put Arizona on the Map for Office Space, Collegiate Athletics
Arizona State University-owned land may be the target of a lawsuit over diversion of property taxes, but its massive real estate development designed to fund ASU’s athletics facilities is progressing forward unscathed. Overall, the Novus corridor just east of Phoenix has nearly $1 billion worth of projects in the works, making it the largest single…»
Commercial Real Estate Lending From the Biggest Banks Shows Signs of Moderation
The nation’s largest banks are being more cautious with their commercial real estate lending, based on what they are saying on their earnings conference calls. The same headwinds that slowed bank lending last year are extending into 2019, as economists debate how much longer the current economic expansion, on pace to reach a record…»
Valley Industrial Rents Reach 10-Year High
As manufacturing employment grows in Phoenix, rents for the Valley’s industrial space have reached a 10-year high. According to Avison Young research, triple-net asking rents increased 2.3 percent year-over-year during fourth-quarter 2018, reaching $7.07 per square foot. In the southwest submarket south of Buckeye Road, asking rents have…»
Downtown Tempe’s New Mixed-Use Development “The Local” to Open April 2019
The Local, a new, multimillion dollar, mixed-use development located in the heart of downtown Tempe at University Drive and Ash Avenue, is set to welcome its first residents April 2019. This newest addition to the Tempe market will be anchored by the region’s newest lifestyle Whole Foods Market. “We are excited to be joining the Tempe community and to…»