Commercial Real Estate & Business News – January 8, 2016

Demand for new homes in metro Phoenix is climbing so rapidly that contractors can’t get them built fast enough. New home permits were up more than 40 percent in 2015 from 2014. And an early tally for December shows it will be best month for new home sales in several years. But it’s not that homebuilders don’t have the land or models open and ready to show buyers. They don’t have enough construction workers…. Read more »
Scottsdale Fashion Square is going big on the site of the former Harkins Camelview 5. Macerich is seeking the city’s approval for a 150-foot height limit for a high-rise residential development. The plan is consistent with the city’s general plan and development vision for the area north of the Arizona Canal on both sides of Scottsdale Road… Read more »
Despite the volatility affecting much of the stock market this week, the outlook for U.S. CMBS financing remains positive overall entering into the next year, although analysts and bond rating agencies are keeping an eye out for any signs of trouble as the CMBS market enters the late stages of the credit cycle… Read more »
There has been much talk recently about what the Federal Reserve’s first interest rate hike since 2006 means for the U.S. economy as a whole. Here we take a look at the impact of rate hikes (current and future) on commercial real estate, examining first the prospective disadvantages and then the potential benefits.Figuring this out isn’t straightforward, as interest rate changes have multiple impacts on commercial real estate (CRE). Further, the very causes of the Fed decision to raise interest rates may signal… Read more »
Sales of income-producing properties totaled nearly $504 billion. And here’s why more foreign money may be coming into the market… Read more »