Commercial Real Estate & Business News – January 8, 2015

CMBS Issuance to Shoot Up in 2015, but Sliding Underwriting Standards Pose a Risk

As many industry experts predicted, CMBS issuance in 2014 overshot 2013 levels, but that may not be an entirely positive development. As of last week of December, Commercial Mortgage Alert, an industry publication, estimated that U.S. conduit shops originated $90.5 billion in new CMBS loans in 2014, up 5.1 percent from $86.1 billion the year before. A 2015 Outlook Survey, conducted by the CRE Finance Council… Read more »

LBA Realty Acquires Kierland Office Project In $49.15 Million Deal

In keeping with its strategy to invest in real estate in major markets in the Western U.S., LBA Realty in Irvine, Calif. (Steven Layton, principal) has paid $49.15 million ($209.15 per foot) to purchase a 235,000 + square-foot office property located within the Kierland community in Phoenix. Maricopa County records show LBA RV-Company VIII LLC paid cash to buy the project, which is located at 16260 N. 71st Street. The seller was The Prudential Insurance Co. of America… Read more »

Chandler Economy To Continue To Thrive In 2015

One of the biggest goals for Chandler in 2015 will be continuing to improve its economic footprint. The city is already home to several high-tech companies, including Intel and PayPal, along the Price Road Corridor. The continued development of the Price Road Corridor is key to Chandler?s economic future, said outgoing City Councilman Jeff Weninger… Read more »

New Apartment Construction: Friend or Foe in 2015?

2014 was certainly an interesting year in the apartment market. The national vacancy rate rose for the first time in roughly five years, to 4.2 percent, although rents continued to grow more quickly than in the other major property classes, which actually experienced vacancy declines. Construction was the culprit behind the rising vacancy rate and has become the primary concern in the market as we train our sights on 2015… Read more »

4 Phoenix-Area Cities Are Tops For Finding A Job

Good news for New Year’s job seekers: Four Greater Phoenix area cities are listed in WalletHub’s top 20 Cities to Find a Job. Gilbert, Chandler, Scottsdale and Peoria were the four that made WalletHub’s survey of best cities for job hunters. WalletHub analyzed 150 of the most populated U.S. cities across 16 key metrics. They range from job opportunities to employment growth… Read more »