Commercial Real Estate & Business News – October 29, 2013

Net Lease Cap Rates Inch Up in 3Q13

After hitting record lows in 2Q13, average and median capitalization rates began to increase slightly in 3Q13. Rates are likely to remain relatively stagnant through year-end, according to NNNet Advisors’ 3Q13 Single-Tenant Net Lease Property Report… Read more

Fresh & Easy Hearing Set for Nov. 19

Fresh & Easy Neighborhood Market here will be formally auctioned off Nov. 19, with the lead bidder – Yucaipa Cos. – having already made its offer public, according to published reports… Read more

A Tale of Two (Comeback) Cities

The downturn didn’t hit too many cities harder than it did Phoenix and Orlando. In both metro areas, the residential sector bore the brunt – just as recovery in the housing market today is pulling up commercial property activity along with it, Phoenix and Orlando experts with NorthMarq Capital tell A report from Florida Realtors last week showed that Orlando housing prices rose 23% year over year, a better showing than most markets across the state, while Phoenix has posted nearly two years’ worth of consecutive monthly gains, according to the S&P/Case-Shiller Home Price Index…. Read more

Dollar General Beats Walmart in Kantar Retail Price Survey

For the second year in a row, Dollar General came out on top in Kantar Retail’s opening price point (OPP) survey, narrowly beating out Walmart Supercenter. The OPP survey, now in its third year, determines how select retailers meet the grocery and consumable needs of shoppers looking for the lowest shelf prices to fulfill their basket requirements… Read more

Little Sign of Housing Bubble in Land Prices

Phoenix is one metro area whose prices have rebounded sharply, and bidding wars are back in the headlines. Judging from land values, Phoenix isn’t in a bubble yet. Phoenix doesn’t look so scary by Davis’s metric. Land’s share of house value was 65 percent in 2006 and then plummeted to 5 percent in 2011. It has climbed steeply since, but it was still just 26 percent in the first quarter of 2013, according to Davis’s calculations. He won’t have his figures for the third quarter of 2013 until next February or so… Read more