Commercial Real Estate & Business News – June 6, 2014

Going by percentages, Arizona banks increased their CRE loans outstanding by 50% year-over-year. Utah followed at a 27% increase. Banks in both Arizona and Utah could see their increasing CRE loan totals continue to grow. Nevada banks’ outstanding CRE loans have declined 33%, an indication that the commercial real estate recovery may have yet to take hold there… Read more
For decades, it was drilled into the heads of many Americans that renting makes you a second-class citizen. You only rent temporarily until you can move up in the world and achieve the American dream by purchasing a home – but those days may be behind us… Read more
There are many variables that impact rents – the age of the building, where it’s located, its tenant profile, and the surrounding competition being among the more prominent factors. Investors and lenders can also require renovation and maintenance expenditures on timetables that don’t always correspond with a property owner’s investment schedule. Consequently, any return on upgrades is likely to vary widely from property to property…Read more
Metro Phoenix’s commercial real estate market has been making big strides this past year in wiping up its mess of foreclosures, bank takeovers and distressed loans that occurred as a result of the real estate collapse…Read more
The CIP proposes to pump nearly $750M into the economy in the upcoming fiscal year. More than half the spending will be in the Water ($175M), Aviation ($163M) and Wastewater ($118M) departments. In 2014-15,$89M is targeted for Streets and Transportation… Read more