Commercial Real Estate & Business News – November 1, 2013

Arizona Nutritional Supplements has signed a seven-year deal to take the entire 126,251-square-foot EastGroup@Chandler Freeways industrial facility. The tenant signed the approximately $5 million contract with landlord EastGroup Properties LLC less than six months after ground broke on the facility… Read more
Lake Washington Partners is negotiating to buy a 600,000+ square-foot distribution facility in Avondale that will be fully occupied if an affiliate company of LWP leases part of the newly-built project. Sources say SanMar Corp., a major supplier of wholesale apparel and accessories, is considering occupying 326,214 sq. ft. of a 603,863-square-foot project at 1110 N. 127th Avenue… Read more
“As always, we have to be careful about overbuilding. In addition, I am also concerned that while the economy is recovering, rents are rising higher than salaries, and that newer product will be priced above what people can afford. This also translates into the prices investors are paying for multifamily. In order to meet their returns at the prices they are paying for communities, rents will need to continue to grow at a healthy pace. If incomes don’t increase to meet the rent increases, we could see challenges in the market”… Read more
With a unanimous vote, the U.S. Securities and Exchange Commission last week agreed to propose news rules permitting companies to offer and sell securities through what has recently come to be known as crowdfunding. The proposed rules could impact the real estate investment market in a big way if crowdfunding catches on and large numbers of ‘unaccredited’ investors pool their money to invest in new construction, community landmarks, etc… Read more
A leading indicator of future nonresidential construction spending hit a seven-month high in September, lending weight to construction forecasts calling for a greater-than-expected 17% boost in commercial construction next year… Read more