Commercial Real Estate & Business News – May 21, 2015

This week’s International Council of Shopping Centers (ICSC) RECon convention saw the strongest turnout in years, with at least 35,000 deal-makers attending annual retail property conference in Las Vegas. With retail sales edging back up and a lack of suitable sites, expanding retailers are prompting a fledgling wave of new development activity… Read more »
Retail landlords are finally sighing in relief as leasing begins to pick up in earnest. This year’s RECon show in Las Vegas has been marked by an across-the-board optimism about tenant activity, with both owners and brokers reporting a spike in meetings about new store openings and expansions… Read more »
Property valuations are expected to increase 5% over the next three years for a total of 15%, according to the RICS US Commercial Property Monitor for Q1-2015, which RICS is set to release Wednesday morning. That is the upper end of what might ordinarily be expected, as property values tend to grow in line with the economy, Simon Rubinsohn, RICS’ chief economist tells… Read more »
The rising volume of CMBS issuance has some in the industry questioning whether there is enough investor appetite to consume all those loans. After all, nearly $300 billion in conduit CMBS loan balance is set to mature in 2015, 2016 and 2017, more than 2.5 times the amount that matured from 2012 to 2014, according to research firm Trepp LLC. However, there appears to be abundant buyer demand to meet that growing supply… Read more »
A vision for a downtown health complex led by Arizona State University and the world’s wealthiest doctor could be approved May 19 by the city council after the first public presentation of the plan for expansion on the Phoenix Biomedical Campus. The council will consider amending ASU’s downtown lease or approving a new agreement to include about seven acres of undeveloped city land for a health-solutions project. The project would include labs, offices, academic institutes, clinical and manufacturing facilities, and monitoring and command centers…Read more »