Commercial Real Estate & Business News January 7, 2019

Phoenix Housing Growth Expected to Outpace Nation in 2019, Despite National Homebuilding Woes
Although housing activity remains in a rut nationwide, local population and job growth is keeping Phoenix somewhat insulated from the national housing malaise. “Put bluntly, housing activity remains in a rut,” according to a December study published by UCLA Anderson Forecast and the UCLA Ziman Center for Real Estate. The study forecasts…»It’s No Longer a Sellers’ Market for Net Lease
In the fourth quarter of 2018 the net lease market shifted away from favoring sellers and moved into a more neutral stance. That quarter, the spread between asking and closed cap rates was 31 basis points, the largest since the second quarter of 2017, according to a new report by The Boulder Group. Furthermore, it reported that the same spread for…»Top 10 CRE Predictions for 2019
If you are looking for predictions for 2019 for the commercial real estate market, you aren’t alone. Here are my 10 CRE predictions for 2019. The industrial real estate market will continue to be the favored real estate sector with robust demand, growth and investor capital. This boom has been the result of strong economic growth, record consumer…»Glendale Aims to Get Freeway Development Right
Glendale is trying something a little different for development with its newest stretch of freeway frontage. The West Valley city hasn’t always pulled off development around freeways well. In the 1980s, the city had more than five miles of freeway frontage along the yet-to-be-built Loop 101. It ended up with a massive…»Phoenix’s Popular Uptown Plaza Shopping Center Sells for $51.65M
Phoenix’s hopping Uptown Plaza shopping center has sold for $51.65 million. The center, home to restaurant Flower Child and retailer West Elm, was built in 1955 by Del Webb on nine acres at the northeast corner of Camelback Road and Central Avenue. It was revamped a few years ago by Vintage Partners. Phoenix-based Levine Investments, led by…»