Commercial Real Estate & Business News March 1, 2019

CMBS 30+s Day Delinquency Rate Fell to 3.11% in December
Recent reports from research firm Trepp and ratings agency Fitch show that CMBS delinquencies noticeably improved at the end of 2018. In December, the most recent period for which data is available, the 30+ day delinquency rate for all commercial property types dropped to 3.11 percent, Trepp reports-a 22-basis-point decrease…»
Graycor Completes Panel Tilt on East Valley Commerce Center Phase II
Graycor Construction Company has completed the panel tilt on East Valley Commerce Center Phase II, a two-building, 363,000-square-foot industrial project being developed by Metro Commercial Properties in the heart of Mesa’s US 60 corridor and captured on drone video as the property begins vertical construction.  The project follows…»
Arizona Among Top States for GDP Growth
Arizona’s GDP grew 4.3 percent in the third quarter of 2018. The increase was the third-largest percentage growth nationwide, after Washington and Utah, according to the Bureau of Economic Analysis. Information services, which includes information technology systems and support and information systems, was the leading contributor…»
San Diego Developer Turning Goodyear Movie Theater into Medical Office Space
San Diego-based PMB is investing $15.7 million to transform a movie theater into a 50,000-square-foot medical office building in Goodyear. Called Palm Valley Medical Center, the project is 90 percent pre-leased. The health care real estate owner and developer secured an $11.4 million loan from Capital One, with the remaining…»
West Valley Leaders Pitch ‘Opportunity’ to Real Estate Developers, Investors
Economic development leaders from West Valley cities are taking a creative approach to pitching real estate developers and investors on the possibilities of building in their cities. At a forum in Avondale hosted by Westmarc Thursday, economic development staff from eight cities used a speed-dating approach to highlight development…»