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Lee & Associates - Arizona | Week in Review | Friday, January 3, 2014
Lee News: 64,375 SF Industrial Building Sells in Phoenix
Lee & Associates Arizona and GPE Commercial Advisors brokered the sale of a 64,375 SF industrial building for $2.89 million. GLOBE ST.
Lee News: Silagi family buys 4 acres in Phoenix
The Silagi family — a major real estate developer and owner in Southern California — has bought a four acres of land in Phoenix for $900,000. PHOENIX BUSINESS JOURNAL
Apple among big 2013 economic projects in Mesa
The biggest development came in fall with the announcement Apple would revamp a First Solar facility near Phoenix-Mesa Gateway Airport. Apple will contract out with GT Advanced Technologies to produce sapphire material for Apple products, and the company expects to hire 700 employees in its first year.
3 bold predictions for the Phoenix real estate sector in 2014
What’s in store for the Phoenix real estate sector in 2014? Experts say the housing market should see less dramatic price gains, higher interest rates and dissipating interest from Wall Street investors. Meanwhile in the commercial sector, a we’re likely a few years away from a healthy recovery. PHOENIX BUSINESS JOURNAL
Downtown Scottsdale sees boom in multifamily housing
A growing number of people are going to be calling downtown Scottsdale home in 2014 and beyond with the completion of numerous multifamily projects. The area is going to see even more towering cranes this year as ongoing apartment projects progress and construction starts on new ones. AZCENTRAL
Lee News: Lee & Associates Brokers $15 Million Industrial Lease in Carson
Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, has brokered a 10-year lease for a 207,538-square-foot industrial building, located at 1241-1245 Watsoncenter Rd. in Carson, Calif., for $15 million. PRLOG
Industrial Investment Hitting On All Cylinders
The success of the U.S industrial marke has attracted major attention for new distribution centers and manufacturing facilities. It's also generated interest from foreign investors, particularly Canada and South Korea. NATIONAL RE INVESTOR
Cap Rate Outlook: Inflation vs. Investor Demand
Cap rates often rise when interest rates rise, but that may not be the case in many markets in 2014.
In the short-term, continued strong demand from equity investors should keep in check any potential hikes to cap rates that buyers hope will accompany higher debt costs. MULTIFAMILY EXECUTIVE
US home price growth expected to slow in 2014 but still see a rise of around 4.6%
Home price growth in the United States remains strong but is expected to slow during 2014 as the rise in vales tail off, according to the latest market report from Zillow. PROPERTYWIRE
The Biggest Guys in the Room
The biggest news for the multifamily industry in 2013 came not at the beginning of the year, when Federal Housing Finance Agency acting director Edward J. DeMarco released the agency’s 2013 Conservatorship Scorecard for Fannie Mae and Freddie Mac, revealing that there would be a 10% reduction target in business volume from 2012 levels. GLOBE ST.
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01/03/2014 - 10:00