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Commercial Real Estate & Business News – September 17, 2014

Report: Phoenix-Area Commercial Properties Less Risky

Commercial properties in the Phoenix area, especially the East Valley, are among the most undervalued in the nation and thus relatively attractive to investors, especially if interest rates start pushing higher next year. That’s the assessment from Mascia Development LLC, a New York company that evaluated 350 metro areas around the nation for investment appeal… Read more »

EDR Reit Pays $91 Million For Student Housing Project Near Asu

EdR in Memphis, Tenn. (NYSE:EDR) paid $91 million (326,165 per unit) to buy The District on Apache, a 279-unit student housing project located southeast of Arizona State University at 977 E. Apache Boulevard in Tempe. The seller in the cash transaction was Tempe Student Housing LLC, a company formed by Residential Housing Development LLC in Houston, Tex… Read more »

Home-Sales Data Belie ‘Lukewarm’ Market

An unusually strong reading for U.S. new-home sales in August might not be enough to kick the market into higher gear. The latest Zelman & Associates survey of home-builder executives overseeing 2,500 new-home communities found that orders increased by 7% on a seasonally adjusted basis in August from July and by 21% from August 2013, the largest annual gain since June 2013… Read more »

Student Housing Stats – Trends Point To Continued Growth

There was a time when student housing either meant living in an on-campus dormitory or an apartment in town. On-campus housing was often austere, and off-campus housing was likely to be a poorly maintained apartment shared with several roommates. In both cases, attitudes about student housing were pretty much the same: Students didn?t care that much about where they lived… Read more »

Retail Interest as Strong as Pre-recession

Investor interest in the retail sector is surpassing one of the strongest periods in recent history, Rick Chichester, president and CEO of Faris Lee Investments, tells GlobeSt.com. In anticipation of ICSC Western Division next month, we spoke with Chichester about the trends he?s seeing in retail real estate investment and where he thinks the smart money is going… Read more »