Commercial Real Estate & Business News – October 20, 2016

Consumer spending in the U.S. has been growing by about 3 percent year-over-year, which is weak by historical standards when the country is not in a recession. However, the risks going forward are weighted to the upside, says Moody’s Senior Director Scott Hoyt…»

Pension funds have been following a clear path of increasing allocations to real estate over the past several years. Despite signs of a maturing market cycle, it appears that most institutions are likely to maintain that same course in 2017…»

Total U.S. housing starts for the 12 months ending in August fell from the levels of one month earlier and were flat compared to one year earlier, according to the U.S. Census Bureau. And, while multifamily starts increased from a year ago, the number of multifamily permits issued decreased, perhaps signaling a slowdown from the peak levels of apartment construction seen over the past two years…»

On the outside, projects such as Westgate, SkySong and Cityscape look like a developer’s dream playground; having everything from eateries to hotels to office space and a lot of acreage to work with. Often, however, getting to the end result of a mega development can be a complicated and tangled web woven between the developer, the banks and the future tenants…»

A prominent corner in the Roosevelt Row arts district could be transformed into a multistory office, retail and restaurant complex that would incorporate the area’s signature bungalows and a longtime commercial building. Desert Viking Development on Wednesday announced plans for the Blocks of Roosevelt Row on Roosevelt Street between Fifth and Sixth streets. The downtown Phoenix site includes three bungalows from the early 1900s as well the building that houses Flowers Craft Beer and Wine…»