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Commercial Real Estate & Business News – November 8, 2017

The new tax reform proposal unveiled by the House of Representatives appears to bode well for the commercial real estate sector. The legislation, which still must work its way through Congress and could change, maintains many of the existing provisions that benefit the commercial real estate industry. For example, the bill continues to allow the deduction of interest expenses. While businesses currently can deduct interest expenses on commercial loans…»

Transaction volume in the drug store sector slowed over the past 18 months due to investor trepidation about the proposed merger between the retail giants Walgreens and Rite Aid, according to a new study out from the Boulder Group, a net lease firm in suburban Chicago. And until buyers know all the details of the deal, recently delayed and then approved by the government, they will continue to hedge their bets. …»

Private equity firm Equus Capital Partners and iStar Inc. (NYSE: STAR) have recently teamed for the $53.2 million purchase of the the McDowell Mountain Business Park in Scottsdale. The Class A office park totals just under 255,600 square feet. It is located near Frank Lloyd Wright Boulevard and the Loop 101. Mesa West Capital provided $42.6 million on financing for the purchase. …»

The largest publicly traded global CRE services firms reported solid results for the third quarter and year-to-date periods amid stronger-than-expected leasing and steady sales activity, despite a declining supply of available properties on the market. The generally robust earnings reports and positive market sentiments during presentations over the last few days …»

Houston-based real estate developer Morgan Inc. is entering the Arizona market and will build a five-story, 474-unit apartment complex near 24th Street and Camelback Road in Phoenix. That is one of the most sought-after areas in the state and Southwest. Morgan and Mesirow Financial are developing the Pearl Biltmore apartments at 24th Street and Highland Avenue…»