Commercial Real Estate & Business News – October 15, 2015

While construction has been rising in many markets, aggregate demand across the major property types continues to outstrip supply, resulting in lower vacancy rates and rent growth. This, in turn, continues to drive strong investor interest in commercial real estate, according to the latest CoStar Commercial Repeat Sale Indices (CCRSI)…Read more »
Valley restaurant owner Francisco Peralta has designs on 10 locations for his Tortilla Fish Taco Shop concept. That includes hopes to open locations in Scottsdale, Gilbert and the San Tan area of the East Valley. Peralta also has some advice for all those wannabe and prospective chefs and restaurateurs: There is peril in taking over already built-out restaurant space even though it is significantly cheaper… Read more »
Despite concerns over the large number of new apartment units being built across the country and high market valuations, the multifamily rental market continues to hum and may be on track for several more years of growth, according to the latest Freddie Mac Multifamily Outlook. The multifamily sector was the first to recover following the Great Recession and new supply has been coming online at elevated levels ever since the 5-year streak of robust growth began… Read more »
With the Valley’s home-ownership rate down more than 8 percent since 2005, one Phoenix-based home builder has created a solution for millennials and baby boomers who don’t want to be tied down by mortgages. NexMetro Communities offers single-story, detached rental homes with backyards in its Avilla Homes neighborhoods. The homes and landscape are maintained by the property management company, which takes a lot of responsibility off residents’ shoulders… Read more »
Investor demand for net-lease properties, those single-tenant assets often perceived as boring but safe alternatives to riskier real estate investments, is spiking to record levels as more confident investors continue to snap up convenience and drug stores, restaurants and other single-tenant retail establishments. “The net lease market has been on fire,”… Read more »