Commercial Real Estate & Business News – May 11, 2016

ICSC’s RECon Global Retail Real Estate Convention is coming up in just under two weeks Sunday throughTuesday at the Las Vegas Convention Center, but if you are (in any way) involved in the shopping center industry, of course you already knew that and are well into planning all your meetings there. What you maybe didn’t know is what all of your fellow retail colleagues are looking forward to and expecting from the event. caught up with just a few… Read more »
The Presson Portfolio sale included three properties – Fairmont Commerce Center, 1919 E. Fairmont Dr. in Tempe; Carleton Business Park, 5005 & 5025 S. Ash Ave., 40 W. Baseline Rd. and 5030 S. Mill Ave. in Tempe; and Fiesta Tech Business Center, 2150 and 2220 S. Country Club Dr. in Mesa… Read more »
The pedestrian-friendly community, located on the southern outskirts of Scottsdale’s Downtown District, is within easy walking distance of bus and trolley routes and is close to numerous cultural, recreational and employment opportunities in the area. Close by, two new developments are already underway in an area of ongoing revitalization in the city… Read more »
Preliminary construction work on the next leg of Mesa’s light rail line could begin as soon as August, according to city transportation officials. Engineers are expected to have a detailed design for the $153M, 1.9-mile addition — which would extend tracks east along Main Street from Mesa Drive to Gilbert Road — nearly finished by July. The extension would add two stations and a park-and-ride to the line… Read more »
Net lease retail investment is hitting new lows, but that’s a sign of its high esteem among investors. During the first quarter, median cap rates for single-tenant retail properties dropped to 6.18 percent, setting a record, according to a report published in April by The Boulder Group. That represents a decline of 7 basis points from the previous quarter and a 22-basis-point decline year over year… Read more »