Commercial Real Estate & Business News November 8, 2018

Investment sales volume in the U.S.continued to grow in the third quarter. And the expectation is that deal volume for 2018 will end higher than last year. “It would be difficult to not surpass 2017 deal volume at this point,” says Jim Costello, senior vice president with research firm Real Capital Analytics (RCA)…»
The Gainey Suites Hotel in Scottsdale has been sold, and its owners are using the property to introduce a new hotel brand to metro Phoenix. The 162-room hotel was sold by Phoenix-based Gainey Hotel Co. LLC to Newton, Massachusetts-based Hospitality Properties Trust (Nasdaq: HPT) for $36 million in October…»
High consumer confidence, low unemployment, and a favorable calendar could push holiday spending past the $1 trillion mark for the first time this year.  According to eMarketer, a company that tracks trends related to digital marketing, media and commerce, total retail sales in the US will increase…»
Denver, CO and Phoenix, AZ – Ascentris, a Denver-based real estate private equity firm, on behalf of one of its public retirement system clients, announced today the purchase of Kierland Corporate Center II, a three-story, 82,000 square-foot Class A multi-tenant office property…»
Cap rates for the single-tenant drugstore sector increased by 11 basis points in the third quarter of 2018 to 6.21 percent over last year. Cap rates for CVS properties remained unchanged, at 5.65 percent, while Walgreens and Rite Aid properties experienced increases of 15 and 7 basis points to 6.15 and 7.32 percent…»