Commercial Real Estate & Business News – May 21, 2013

Euphoria Reigns at RECon

This is my 12th trip to ICSC’s flagship event in the past 14 years and the thing that strikes me every time is the boundless optimism of retail real estate pros. Even in 2008 – when the Las Vegas Convention Center was reduced to a ghost town by the Great Recession and the credit crisis – I remember executives assuring me that the dark days would pass quickly and, in fact, would yield amazing growth opportunities for the sector. This year is no exception. In fact, spirits seem to be soaring higher than ever. Attendance is in the neighborhood of 35,000, up about 10 percent from last year. The aisles and booths are packed. Everyone I’ve spoken to has a schedule overflowing with appointments. And they are not just “meet and greets.” People are here to buy or sell properties or sign leases. It bodes well for the rest of 2013… Read more

Deep Freeze To Linger For GSA Office Needs

As the deadline arrives today for all federal agencies to submit reduced real estate plans, the continued office space freeze, consolidations and teleworking have combined for a historic event: an almost complete halt to national government office growth… Read more

Fitch Ratings Says CMBS Delinquencies Lowest in Five Years

Commercial mortgage-backed securities (CMBS) delinquencies in the United States fell in April to their lowest level in five years, according to the latest data from ratings agency Fitch Ratings. Late payments for CMBS declined 19 basis points in April, going down to 7.44 percent from 7.63 percent in March, according to Fitch Ratings. Furthermore, the total amount of new delinquencies reported in April, $747 million, dropped below the $1 billion mark for the first time since February 2009… Read more

Outlook: All U.S. Real Estate Sectors to Post Gains in 2013 – Yes, Even Retail

Although 2013 isn’t a blockbuster year for real estate performance, landlords across an array of commercial property types are gaining pricing control and increased rental income from their assets… Read more

Towering Above: Making a Statement in Downtown Scottsdale

A landmark in Downtown Scottsdale since 1972, imagine the view from this 11-story, Class A high-rise, formerly known as the Camelview Office Building at 6900 East Camelback Road. With its new designation of Camelback Tower, this exclusive property, connected to Scottsdale Fashion Square, has recently been reinvigorated, attracting new tenants to make a distinctive statement towering above Scottsdale… Read more