Commercial Real Estate & Business News – September 6, 2017

Multifamily REITs keep building new apartments, and the analysts who track the companies are getting worried. “Both the volume and pace of new unit construction has been a concern in the multifamily space this year,” says Camilla Yanushevsky, senior analyst of real estate product operations for S&P Global Market Intelligence. REITs in most sectors have capital to invest…»
The Town of Gilbert has announced the expansion of GoDaddy’s current Gilbert facility. This 15,000-square-foot expansion will increase the footprint on their new 10-year lease to 180,000-square-feet, will help the company retain nearly 1,400 jobs, and will result in approximately $15 million in capital investment. There’s a wonderful sense of community in Gilbert…»
CHICAGO-E-commerce may have hit many retailers hard, but some, at least from an investment standpoint, have seen benefits. Investors keep gravitating towards the quick service restaurant sector, pushing its median cap rate below other kinds of retail outlets. In the second quarter of 2017, the rate fell to just 5.56%, a 14 bp decline when compared to the prior year, according to a new study by the Boulder Group, a net lease firm in Northbrook, IL…»
An Amsterdam-based co-working concept called Spaces is leasing two floors in downtown Phoenix’s One Renaissance Tower in a move that is part of the building’s $50 million renovation. At nearly 40,000 square feet on the 18th and 19th floors, Los Angeles-based commercial real estate firm CBRE Group Inc. (NYSE: CBG) is calling it the largest co-working space in Arizona…»
The rising number of people age 65 and over, pressure for health-care providers to cut costs and the rise of new technology will continue to drive demand and opportunities for medical office developers and investors, according to a new report by CBRE Group, Inc. According to “U.S. Medical Office Buildings: A Cure for Market Volatility,” CBRE’s first report outlining the U.S. medical-office sector’s investment potential as a growing and maturing asset class…»