Commercial Real Estate & Business News November 8, 2019

Low U.S. Interest Rates Are Fueling a Bubble in Commercial Real Estate At their October meeting, Federal Reserve officials once again cut interest rates. The central benchmark rate fell from 1.75 percent to 1.50 percent. The 180-degree interest rate turn continues. It seems like a lifetime, but only a year ago, the Fed indicated rates would steadily increase.Now, central banks around the world are ramping up…»Opportunity Zone Sales Increase $1.4 Billion
New data shows a boost in sales of properties sitting in federal opportunity zones, a trend backers hope to see accelerate as buyers seek lucrative tax breaks to invest in low-income areas around the country. Through the first three quarters of 2019, commercial property sales in the more than 8,700 designated opportunity zones totaled…»

Phoenix Planning Commission to Discuss Midtown High-rise Thursday
The Phoenix Planning Commission will discuss a planned mixed-use development proposed at Central Avenue and Thomas Road at its meeting Thursday evening. The building, proposed by Pederson Group Inc., will include ground-floor restaurants and retail, and the upper floors will either be office, apartments or a…»

How the Top Emerging Markets on the West Coast Stack Up
Investors are targeting Las Vegas, Salt Lake City and Phoenix, but how do these growing markets compare? All three markets are positioned for long-term growth, but they aren’t seeing the same growth fundamentals. Job growth and population growth are factors across the three markets, but investors are paying close attention to the…»

The Drug Store Industry Is a “Two-Player Sector”
Cap rates for the single tenant drug store sector increased by a single basis point to 6.22% year-over-year in the third quarter of 2019, according to The Boulder Group. The news in the sector wasn’t all cap rate expansion though. Rates for CVS and Walgreens properties experienced decreases of 5 and 9 basis points to 5.6% and 6.06%…»