Commercial Real Estate & Business News July 31, 2018

As common as it is to consider urban and suburban environments opposites in terms of density, development, and culture, it’s neither helpful nor accurate to define all urban locations by their high-population downtowns or all suburbs as strictly single-family residential. So concludes The New Geography of Urban Neighborhoods…»
Despite nationwide apartment construction slowing in 2018 after a six-year upward trend, both construction and rent prices in Phoenix continue to climb. According to a RentCafe report, developers in the Phoenix area plan to build more than 10,300 new apartment units this year, 55 percent more than last year. Phoenix ranks sixth in the top 20 U.S. metros for projected apartment deliveries during 2018…»
The online home goods discounter announced it will launch a platform for retail estate, called “O Real Estate,” in September. The site will eventually give landlords and tenants a portal for renting, buying and managing real estate, all in one place. Overstock previously made a move into the real estate business in 2008 when it set up a real estate search site, which it shut down in 2011…»
E-commerce is taking up more space across the Valley. Real estate and investment management firm, JLL, says during the second quarter, e-commerce companies signed nearly 40 percent of all industrial leases in metro Phoenix, compared to 7 percent by logistics and distribution users. While the southwest Valley is known for large retail distribution centers, other areas are welcoming new fulfillment centers…»
As home prices rise, investors in single-family rentals are struggling to find new properties to add to their portfolios. “The retail market for vacant homes has become extremely tight as home buyers and investors compete for the low levels of inventory on the market,” says Greg Rand, CEO of OwnAmerica, an online exchange for occupied SFRs…»