Commercial Real Estate & Business News – February 4, 2015
Target Focusing on Smaller Urban Stores for Growth in 2015 Following its announcement two weeks ago that it was abandoning its short-lived effort to establish a foothold in Canada, Target Corp. announced plans to open 15 more U.S. stores this year. Target is expanding three distinct store formats but the bulk of them will be […]
Commercial Real Estate & Business News – February 3, 2015
RK Properties Adds To Multi-family Holdings…Drops $23.25 Million For 160 Units A company formed by RK Properties in Long Beach, Calif. (William Rance King, Jr., mgr.) paid $23.25 million ($145,313 per unit) to buy the 160-unit Azure Creek at Tatum Ranch apartments at 29862 N. Tatum Boulevard in Phoenix. The seller was Sunstone Azure LP, […]
Commercial Real Estate & Business News – February 2, 2015
Market Trend: Phoenix Retail Vacancy Decreases to 9.8% The Phoenix retail market experienced a slight improvement in market conditions in the fourth quarter 2014. The vacancy rate went from 10.1% in the previous quarter to 9.8% in the current quarter. Net absorption was positive 819,805 square feet, and vacant sublease space decreased by negative 25,345 […]
Commercial Real Estate & Business News – January 30, 2015
On a Roll, U.S. Office Market Demand Expected to Stay Strong Through 2016 With vacancies falling and rents rising in growing numbers of submarkets and slices within the U.S. office sector, demand for office space is expected to remain at post-recession highs for the next two years, according to CoStar Portfolio Strategy analysts recapping the […]
Commercial Real Estate & Business News – January 29, 2015
Sales of New U.S. Homes Rose More Than Forecast to End 2014 Purchases of new homes in the U.S. jumped in December to the highest level in more than six years, a sign the industry is poised to keep expanding in 2015. Sales increased 11.6 percent to a 481,000 annualized pace, exceeding all estimates in […]
Commercial Real Estate & Business News – January 28, 2015
Lenders Still Chasing Multifamily Loans Lenders are still eager to make loans on apartment properties, and grew their multifamily lending business again in the third quarter of 2014. “There has been a strong appetite to lend to multifamily in the last few years,” says Jamie Woodwell, vice president of commercial/multifamily research for the Mortgage Bankers […]
