Drops in Joblessness, CMBS Late-Pays Align
As the unemployment rate goes, so goes CMBS delinquency. That?s the conclusion reached by Standard & Poor?s, which forecasts the late-pay rate to decline across 2015 in line with the rate of joblessness. Specifically, the ratings agency is predicting a decline of between 50 and 100 basis points in the overall CMBS delinquency rate by year?s end… Read more »
9 Economists Offer Their Best Advice for Today?s CRE Investor
It?s been years since the climate for investment in commercial real estate has been this favorable?property fundamentals are improving, construction pipelines are just revving up and interest rates remain at historically low levels (at least for now). People have plenty of capital and are anxious to deploy it… Read more »
LA Developer Wants To Build New, High-Tech Class A Office Building In Old Town Scottsdale
A Los Angeles developer that owns the Galleria Corporate Centre in Scottsdale wants to build a new Class A office building next door in Old Town. Stockdale Capital Partners wants to develop a 250,700-square-foot office project called the Marquee at the District near Scottsdale and Camelback roads. The new office building would be adjacent to the Galleria. Stockdale bought that commercial property in 2013… Read more »
De Rito Partners to Build New Retail Center in Chandler
De Rito Land Development LLC, a company formed by De Rito Partners in Phoenix in partnership with Van Tuyl Group has gained Chandler City Council approval for the zoning and design of a Fry?s Marketplace Store, which will anchor a neighborhood commercial retail center on land at the southwest corner of Gilbert & Ocotillo roads. The 31 acre land purchase for $8.6 million is set to close in 2015… Read more »
Demand sees US pending home sales reach highest level since August 2013
Improved buyer demand at the beginning of 2015 pushed pending home sales in the United States in January to their highest level since August 2013, according to the latest figures to be published. The data from the National Association of Realtors also shows that all major regions except for the Midwest saw gains in activity in January. The Pending Home Sales Index, a forward looking indicator based on contract signings, climbed… Read more »