Commercial Real Estate & Business News – November 12, 2015

After Leading CMBS Out of Recession, Retail Loans Slower To Refinance

For all of their success in leading a resurgence of CMBS financing following the Great Recession, retail properties face a tougher rode ahead in the short term. Approximately $50 billion of retail-backed CMBS loans are scheduled to mature through 2016. Collateral backed by retail properties accounts for the largest portion of that, its also accounts for the largest proportion of loans defaulting at their 2015 maturities, according to Fitch Ratings… Read more »

Gilbert’s 1st Mercedes-Benz dealership to open in 2016

A $15 million piece of eye candy is set to arrive in Gilbert early next year. The town’s first Mercedes-Benz dealership — stocked with luxury sedans, coupes and SUVs — plans to open by spring within Gilbert’s massive Rivulon mixed-use project near Loop 202’s Santan Freeway and Gilbert Road. Plans include a two-story, 67,000-square-foot building with a showroom, boutique, cafe and customer lounge in what will be the fifth Mercedes-Benz dealership in metro Phoenix… Read more »

CRE Survey Reflects Both Positive Conditions and Concerns Over Interest Rates, Global Volatility

A survey of commercial real estate executives found expectations for more measured market conditions, with asset values increasing at a slower pace and moderate capital availability expected over the next year, according to The Real Estate Roundtable’s latest quarterly Sentiment Index. The Roundtable’s Overall Sentiment Index score for the fourth quarter of 2015 is 57 — a four point dip from the previous quarter, and a 13-point drop from the same time one year ago… Read more »

D.R. Horton Sees Jump in New-Home Deliveries

Home builder D.R. Horton Inc. sidestepped the labor shortages plaguing many of its peers, posting a 23% year-over-year gain in delivered homes for its fiscal fourth quarter ended Sept. 30. D.R. Horton, the largest U.S. home builder by sales, contracted to sell 8,477 homes in the quarter, up 19% from the year-earlier period, and delivered 10,576. The Fort Worth, Texas-based builder notched a 0.6 percentage point increase in pretax profit margin to 10.7%, a sign that… Read more »

Aerostar Aerospace leases building in Deer Valley

Aerostar Aerospace Manufacturing, a manufacturer of high-complexity machine parts used in commercial aircraft, has completed a 7-year lease on an industrial/manufacturing building located at 2688 East Rose Garden Lane in Phoenix, Arizona. The property is owned and operated by Generic Investments II, LLC. The +/- 55,312 square foot building is located in the highly sought-after Deer Valley submarket, which is home to several Fortune 500 companies… Read more »