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Commercial Real Estate & Business News May 22, 2019

Adding New Uses a Profitable Proposition, Developers Say at RECon As the costs of land, labor and construction rise, more developers are focusing on upgrades to existing properties than they are on seeking ground-up developments or value-added centers, executives said at a RECon panel discussion. “It’s been hard to make deals economical if we can’t get the land for free,” said Conor Flynn, CEO of Kimco Realty Corp. “We haven’t…»
Challenges and Opportunities in Retail Financing
From a financing perspective, the retail sector continues to be challenged, but there are good gems too. That is according to Dan Palmier, CEO of UC Funds, who chatted with GlobeSt.com about all things retail, surrounding ICSC RECon. According to Palmier, e-commerce is the prime agent in making lenders very wart of most projects. “From a lender…»
Rise in CMBS IO Loan Issuance Surpasses Pre-Recession Levels, Worrying Some in the Industry
Competition that is fueling a spike in interest-only (IO) loan issuance is drawing mixed responses from industry observers. Some view the spike as a worrisome rise in risk that could come back to bite borrowers if 10-year loans mature in a higher interest rate market. Others see IO loans as an opportunity for borrowers to take advantage of healthy lender…»
Central Phoenix Swimming Pool Store to be Transformed into Restaurant, Retail Space
Point B Inc. will soon begin construction to transform a former Shasta Pools store and showroom into a restaurant and retail center the developer is hoping will be a place that will reinforce the neighborhood’s identity. “We were looking for a good urban infill opportunity,” said Matt Hargis, president of Point B Property Development. “We got excited when…»
Phoenix Becomes a Powerhouse in Data Center Development
The whispers and hints of big things happening in the Phoenix data center market are now full-fledged roars and the market is no longer a sleeping giant. The giant has awoken. The Phoenix area has exploded with data center development. In Goodyear alone, three companies – Stream Data Centers, Vantage Data Centers and Compass Datacenters – have…»