Commercial Real Estate & Business News – October 4, 2013

Developers Plan Huge Goodyear Business Park

A 267-acre business park is planed in Goodyear that developers say could bring thousands of new jobs to the West Valley. According to National Real Estate Investor, the Goodyear AirPark would be developed by Lincoln Property Company… Read more

Mesa Updating Transit Plan for Estimated Population Boom in Next Three Decades

After significant growth over the last decade, the City of Mesa is revamping its transit plan to adapt to what city staff believes will be a large influx of people over the next 30 years… Read more

U.S. Holiday Sales May Rise 3.9% as Budget Fight Curbs Sentiment

U.S. retail sales may increase 3.9 percent during the holiday season, as political and economic uncertainties damp consumer confidence, the National Retail Federation said… Read more

Arizona’s Wealthy Lagging Others in Recovering from Recession

Arizona’s wealthy are lagging their brethren in California when it comes to recovering their riches from the recession. Arizona investors are also less bullish on real estate than others. A new study of wealthy investors by BMO Private Bank found 48 percent of Arizona’s affluent say they are now better off than before the recession hit at the end of 2007… Read more

Rising Rates, Fed Spending Limits Take a Bite Out of Multifamilly Loan Originations

Forget the federal government shutdown, it’s federal spending limits and rising interest rates that appear to be having a more immediate impact on the multifamily real estate lending markets. Walker & Dunlop Inc., one of the leading commercial real estate finance companies in the U.S., with a primary focus on multifamily lending, announced that it expects third quarter 2013 loan originations to be in the range of $1.7 billion to $1.9 billion, below its third quarter guidance of $2 billion to $2.5 billion… Read more