Commercial Real Estate & Business News – November 12, 2013

After several years of slow-moving growth the commercial real estate market is in a recovery mode as transaction volume increased 27 percent over a year ago and prices display solid gains, said National Association of Realtors Chief Economist Lawrence Yun during a commercial real estate forum at… Read more
Perhaps it is the wave of the future in Scottsdale – small developments on small lots throughout the city. A dozen new-home developments, none of them bigger than 66 units, are in the works in the city. A few have kicked off construction, and others are still going through the city’s approval process. All of them are on tight sites, averaging a little over 25 acres… Read more
The Phoenix Industrial market ended the third quarter 2013 with a vacancy rate of 12.7%. The vacancy rate was up over the previous quarter, with net absorption totaling negative 136,184 square feet in the third quarter. That compares to positive 566,070 square feet in the second quarter 2013. Vacant sublease space increased in the quarter, ending the quarter at 1,564,615 square feet… Read more
The dramatic rise in housing prices during the past two years has lifted a millstone off the backs of many once-underwater homeowners and many who work in the industry. Sometimes they’re one and the same, like Lisa Brown, a branch manager at mortgage banker AmeriFirst Financial… Read more
A Newport Beach, Calif. firm recently scooped up 10 metro Phoenix properties through a $52.6 million portfolio deal, according to a company statement. The portfolio, purchased by Buchanan Street Partners, was comprised of 446,000 square feet of both office and industrial space, with some retail. Minnetonka, Minn.-based Carlson Real Estate Co. was the seller… Read more