Commercial Real Estate & Business News – July 31, 2013

Phoenix Housing Market Up, but Commercial Sector Still Struggles

As values on residential property in Phoenix continue to recover post-recession, experts say growth in the commercial sector will take more time. The city is saturated with commercial space, experts say, but they have seen positive signs in certain areas. Experts say the housing market is the first to go down in a bad economy and the first to bounce back. The commercial market follows… Read more

Grand Canyon University Selects Eastmark in Mesa for Second Campus

Grand Canyon University has selected DMB’s newest community, Eastmark in Mesa for its new East Valley location. GCU will have the right to purchase 100 acres at Eastmark to develop its second university campus, with an option to add up to 60 adjacent acres in the coming years for expansion… Read more

Retail: On Its Way to Single-Digit Vacancy

Velocity Retail’s research for Q2 2013 retail showed a decrease in vacancy and an increase in leasing activity. Specifically, vacancy stands at 11.3%, down 1% from six months ago and a decrease of more than 2% from its highest level of 13.7% during Q3, 2011. Another positive factor is that… Read more

Phoenix No. 3 in U.S. for New Construction Jobs

The Phoenix metropolitan area is No. 3 in the nation for construction job growth during the past 12 months, according to new data released by the Associated General Contractors of America. From June 2012 to June 2013, Phoenix added… Read more

Options Remain Limited for Net-Lease Investors

Purchasing options remained limited for net-lease investors in 2Q13, according to the 2013 Mid-Year Net Lease Economic Report by Calkain Cos. and Chandan. Capitalization rates were stable in the second quarter despite the 50-basis point increase in U.S. Treasury rates, which was largely absorbed in spreads… Read more