Commercial Real Estate & Business News – November 2, 2016

The next time you are shopping at Scottsdale Fashion Square, having dinner at the Arizona Biltmore or dropping your kids off at Chandler Fashion Center, thank Rusty Lyon. He’s the visionary developer who saw metro Phoenix’s growth coming and launched…»
Reversing a long-term trend, cap rates for single tenant CVS, Rite Aid and Walgreens properties all increased significantly in the third quarter of 2016, according to a new report by the Boulder Group, a net lease firm in suburban Chicago…»

Christian Care, which operates a handful of retirement communities in Arizona, is set to break ground in a couple of weeks on a $65 million senior housing facility in Surprise. Plans call for hiring 85 full-time and 20 part-time employees for new facility at 16477 W. Bell Road for a summer 2017 opening.…»

Fannie Mae and Freddie Mac have seen their combined share of multifamily lending decrease this year to 44% – down from 52% in each of the preceding three years, according to analysis of data by Fannie Mae. …»
Nonresidential construction spending fell 0.9 percent from August to September 2016, according to analysis of U.S. Census Bureau data released today by Associated Builders and Contractors (ABC). …»