Commercial Real Estate & Business News – November 19, 2013

A new national report predicts the Phoenix area will be among the fastest-growing metro regions of the country next year, posting figures well ahead of the more-plodding gains forecast by Arizona’s economists. The report, released Monday for the U.S. Conference of Mayors, suggests the housing industry will again lead the Phoenix area’s relatively rapid growth in 2014. It predicts 3.3 percent growth next year for the Phoenix area in terms of gross metropolitan product, a measure of all the goods and services produced in an area… Read more
Mark-Taylor, Inc. recently began construction on a 296-unit luxury rental community at Val Vista Drive and Pecos Road in the Spectrum neighborhood of Gilbert. The new San Privada, located at 1480 E. Pecos, will offer an unparalleled living option for residents looking to live in an urban, mixed-use area of the town… Read more
Retailers anticipate a 3.1% increase in sales on Black Friday this year, mirroring their projections from last year. However, a new a survey of top retail chief marketing officers by BDO USA shows that retailers have moderated their expectations for growth in Cyber Monday sales, predicting that sales will grow by 3.7% this year, down slightly from last year’s sunnier 4.3% growth projection… Read more
A panel of net lease REIT chief executive officers told a REITWorld 2013 forum that the sector is likely to continue on a path of solid growth, fueled in part by an inflow of assets from the non-traded segment of the market. Net lease REITs own properties, typically free-standing buildings, that they lease to single tenants. The leases require tenants to pay all the costs of operating the properties, in addition to the rent… Read more
Investment firm Blackstone is attempting to gain a footing in the buy-to-rent market, with the launch of B2R Finance to provide residential buy-to-rent mortgages for property investors. The firm says funds managed by Blackstone Tactical Opportunities established the new unit… Read more