Commercial Real Estate & Business News November 13, 2019

This Year Could Break a Record for Multifamily Sales Volume Despite concerns about potentially slowing economic growth and new rent control laws around the country, investors continue to go after apartment properties. The volume of U.S. multifamily acquisitions in the first nine months of 2019 was higher than during any other comparable period since this expansion cycle began a decade…»
Low Interest Rates Spur More Refinancing Activity
Borrowers have been enjoying a low interest rate environment for some time. Yet the further drop in interest rates this year has stoked a surge in refinancing activity. The Federal Reserve kicked off the first of three rate cuts in late July, which subsequently pulled commercial real estate lending rates lower in the third…»
Harkins Moving Forward with New Projects in East, West Valley
Harkins Theatres, a Scottsdale-based movie theater company, is continuing to grow and improve its footprint across the metro Phoenix area with multiple new construction and renovation projects on both sides of the Valley. For starters, the company said Nov. 7 it would make extensive upgrades to the Harkins Gateway Pavilions theater off…»
Report Names Phoenix a Top ‘Buy’ Market for Industrial Real Estate
Phoenix is among the top markets to buy industrial real estate, according to a new report from Ten-X Commercial, an online real estate transaction platform. According to the report, Phoenix is the third-best “buy” market nationally, with rents per square foot expected to increase 4.6% during the next three years, reaching $6.65 by…»
LivCor Pays $43M for Phoenix Asset
In a $43 million deal, the P.B. Bell Cos. has sold Solis at Towne Center, a 240-unit Class A community near Phoenix, according to Yardi Matrix. LivCor, the buyer, assumed the outstanding balance of a $20.2 million loan from Allstate taken by the seller in 2016. The mortgage matures in August 2026. Located at 17600 N. 79th Ave. in Glendale, Ariz.,…»