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Commercial Real Estate & Business News – June 10, 2014

Home prices in 46% of US counties were still 30% or more below their 10-year peaks in March, according to RealtyTrac. The firm reports that while 724 counties fell into this category, 315 counties – 20% – reached a new 10-year peak in 2013 or 2014. Major counties that were still below peak include Cook County, IL (Chicago) at 37% below peak; Maricopa County, AZ (Phoenix) at 33% below peak… Read more
As the economy recovers, experts say more people are taking a closer look at downtown living. They like the commute (or lack of). They like walking to nearby restaurants. And they like the increased interest in development in the area. Experts say people from across the Valley have shown interest. And not only to rent;they want to buy… Read more
The concrete structure called Elevation Chandler was intended to be a luxury hotel and would have provided the Chandler Fashion Center located next door a steady stream of consumers. It now sits vacant and exposed on an empty dirt plot and serves as a stark juxtaposition to the prosperous shopping center… Read more
The level of commercial/multifamily mortgage debt outstanding increased by $11.1 billion in the first quarter of 2014, as three major investor groups increased their holdings, creating a .4% increase over the fourth quarter of 2013. The Mortgage Bankers Association said that total commercial and multifamily debt outstanding came in at…Read more
Scottsdale has made redevelopment along the McDowell Road corridor a top priority. The nearly 3-mile stretch from Loop 101 to 64th Street at the Phoenix border was particularly hard-hit by the recession, with abandoned auto dealerships and retail outlets marking what was once one of Scottsdale’s showcase commercial corridors…Read more