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Commercial Real Estate & Business News May 17, 2018

Millennials are the largest class of homebuyers in the market and will have paid more for rent than any previous generation by time they are 30, according to a RENTcafé report. Rent prices are increasing and millennials know they’re investing in their property with every upgrade they make, according to a report done on RENTcafé…»
Traditional retailing may still be under pressure from online retailers such as Amazon, but results released Wednesday by Macy’s show there’s still plenty of hope as the sector evolves and transforms itself. Macy’s experienced a sales surge at the start of the year as customers flocked to buy products ranging from perfume to hand bags,…»
Amazon.com Inc. is opening a new warehouse in Tucson that will employ 1,500, according to the Arizona Daily Star. The Seattle-based e-commerce giant (Nasdaq: AMZN) will handle customer returns, light assembly, 3-D printing and direct product pickup by customers at the new 855,000-square-foot facility, according to the Daily Star.…»
Phoenix, Arizona – Colliers International of Phoenix is reporting the Greater Phoenix retail market posted an unusually strong first quarter. The past three months marked the strongest first quarter performance since 2008 as retailers ramped up activity in response to continued economic growth and an accelerating housing industry.…»
Some of the headwinds that will create a drag on originations are rising interest rates and slowing NOI growth. Lenders facing stiff competition to place capital may face an even tougher road ahead given the latest forecast from the Mortgage Bankers Association that is predicting a 2 percent decline in originations in 2018.…»