Commercial Real Estate & Business News – November 1, 2017

NEW YORK CITY-“Home price increases appear to be unstoppable,” says S&P Dow Jones Indices’ David M. Blitzer in reference to the latest S&P CoreLogic Case-Shiller Indices, released Tuesday. One of the three indices, the US National Home Price NSA Index, covering all nine US census divisions, reached a new high with a 6.1% annual gain in August, up from 5.9% in July…»
The Phoenix office market slowed a bit last year, but this year has regained momentum. Marketwide vacancy in the third quarter was 15.9%, the lowest it has been since 2008, Kidder Mathews reports. Leasing activity was nearly 2.5M SF in Q3, pointing to high levels of demand for office space spurred by a strong local economy…»
Chandler’s airport is a hub of activity for private and student pilots, and the the city is looking to grow jobs at the airpark surrounding it. James Smith, the city’s economic development program manager, calls the swath of 9 square miles in southern Chandler the city’s “last frontier.” The Chandler Airpark is one of the city’s five employment corridors…»
Los Angeles and Phoenix, Ariz. -Equus Capital Partners, Ltd. (“Equus”), one of the nation’s leading private equity real estate fund managers and iStar Inc. (“iStar”), announced today the formation of a joint venture to complete the $53,150,000 acquisition of McDowell Mountain Business Park in Scottsdale, AZ…»
While owners of single-family rental (SFR) properties are still raising rents, they are not doing so as quickly as they had over the last few years. “Rent growth is still solid, but generally decelerating when you compare year-over-year growth now to the year-over-year growth seen one year ago,” says Rick Palacios, director of research of John Burns Real Estate Consulting…»