Commercial Real Estate & Business News – November 20, 2014

Prices, Trading Volume for Commercial Property Continue Yearlong Rebound In Third Quarter

Retail Joins Party as Pricing Trends Hold Steady for All Property Types from Year Ago: With the accelerating recovery in retail real estate taking center stage, U.S. commercial property saw price gains and increasing sales in both the high and low ends of the commercial real estate market during the third quarter, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI). Read more »

Empty-Nesters Flock to Apartment Living

Magnitude of Boomers? rental demand stuns some industry observers. Young adults ages 22 to 30?those ?Millennials? who are a target demographic for many of the new apartment properties hitting the market?are likely to be in their first or second post-college home away from their parents. But it?s becoming more and more possible that their next-door neighbors could be their parents…or at least people their parents? age… Read more »

5 Restaurant Chains That Will Outperform The Rest Of The Industry

The restaurant sector is becoming increasingly competitive. Americans go out to dinner an average of 74 times a year, The Washington Post’s Wonkblog reports, citing the consumer research firm NPD Group. That’s the lowest reading in three decades… Read more »

2015: Paradise Valley Could See New Ritz-Carlton Pitch

It appears the development behemoth known as the Paradise Valley Ritz-Carlton project may be rising from its recessional slumber. Community chatter around the project is building in anticipation of new leadership taking over in the Town of Paradise Valley in 2015, which includes new town council members and a new town manager… Read more »

Downtown Restaurants Can Expand Seating onto Phoenix Streets

Businesses in the downtown Phoenix arts district have the option of extending activity onto city streets with the new Downtown parklet program. Parklets are pedestrian seating and activity areas that can be developed within the bounds of two streetside parking spaces. The greenspace can be used by restaurants for patron seating and other seasonal pedestrian spaces… Read more »