Commercial Real Estate & Business News – May 17, 2013

Retail Rent Growth Finally Takes Root Across U.S. Metros

Following a recent string of relentlessly unexciting market trends in retail real estate over the past several quarters comes this distinctly positive news for retail property owners — quoted asking rents have finally turned upward across all retail property types in the U.S. for the first time since 2008… Read more

Arizona Adding Jobs, but Unemploymnt Rate Holds Steady

Arizona’s job market remains flat. The state’s unemployment rate held steady at 7.9 percent in April for the third straight month. There were 5,200 jobs added by Arizona employers last month, according to the Arizona Department of Administration… Read more

LA Buyer Snags 110,000-SF Scottsdale 68

Wilshire Capital Partners of Los Angeles purchased the Scottsdale 68 Design District from Fenway Properties for $11 million. The 109,652-square-foot sale ended Fenway’s more than five-year hold of the asset, which was once known as the 68th Street Design Center… Read more

Recovery In CRE Sales, Pricing Up Year over Year, Despite Sluggish First Quarter

Just like clockwork, after ending 2012 on an upswing, commercial real estate pricing softened in the first three months of 2013, according to the latest findings from the CoStar Commercial Repeat Sale Indices (CCRSI). Despite uneven performance in the first quarter, CRE prices have still increased appreciably from year ago levels… Read more

Boomers, Gen Y Drive RE Demand

With Baby Boomers and Generation Y-ers the “dominant drivers of real estate demand over the coming decade,” according to Urban Land Institute, their location preferences for working, living and playing are extremely influential in commercial real estate decision-making… Read more