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Commercial Real Estate & Business News – May 13, 2013

Market Trend: Phoenix’s Retail Deliveries, Construction and Inventory

During the first quarter 2013, seven buildings totaling 88,451 square feet were completed in the Phoenix retail market. Over the past four quarters, a total of 968,842 square feet of retail space has been built in Phoenix. In addition to the current quarter, 15 buildings with 542,958 square feet were completed in fourth quarter 2012… Read more

Mesa GM Site Reborn as a Housing Development

Four years after General Motors turned out the lights on its Desert Proving Ground in Mesa, you’d hardly know the place. The iconic white water tower is still there, although the GM logo has been painted over. A few of the old buildings remain, fenced off and crumbling on the east side of Ellsworth Road… Read more

Ground Shifts for Fannie, Freddie

Since they were seized by the federal government and bailed out with more than $200 billion in taxpayer funds, government-sponsored entities (GSEs) Fannie Mae and Freddie Mac have been in a kind of limbo. The Fannie Mae and Freddie Mac programs continue to be the leading source of permanent financing for the apartment business… Read more

10 Hottest U.S. Housing Markets of 2013

After a long and painful downturn in the housing market, home prices in many – but not all – regions of the U.S. are showing signs of recovery. According to Zillow, a real estate listing website, home values rose 5.1% across the U.S. between February 2012 and February 2013. Many local housing markets are performing considerably better than the country as a whole… Read more

Shopping Center Rents Rise 5.5 Percent YOY

U.S. shopping centers posted their fourth consecutive net operating income gain in 1Q13, rising 5.5 percent since 1Q12, according to the International Council of Shopping Centers and the National Council of Real Estate Investment Fiduciaries. After years of sluggish growth, Midwestern shopping centers posted an 8.6 percent NOI gain year over year, followed by the West with a 7.3 percent YOY increase… Read more