NAR: EXISTING HOME SALES RISE IN FEBRUARY

A small turn upward on the residential front in the month of February.

Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September. [...more...]

REPORT: PANIC OVERSTATED

...Despite an expected incremental rise in vacancies across all major property types over the next few years, vacancies are still expected to remain lower than 2002/2003 peak levels, and the 2008/2009 period is projected to see rents to continue moving upward into positive territory... [...more...]

Q&A: Philip McAndrews of TIAA-CREF

This is a very interesting perspective from a big player in Commercial Real Estate investments. Enjoy!

New York-based TIAA-CREF is considered one of the largest institutional real estate investors in the world. The self-described financial services organization has more than $435 billion in total assets under management and about $25 billion in real estate assets.

That size alone makes TIAA-CREF’s perspective important in today’s uncertain economic environment. We caught up with Philip McAndrews, the company’s managing director and head of real estate portfolio management, to pick his brain about the state of the markets and how the company is sourcing deals and building its investment portfolio. [...more...]

1,600 ACRE BUSINESS PARK PLANNED

The West Valley is continuing mixed use growth...

SunCor displayed its first building at an event on Monday. The 440,000-square-foot, speculative cross-dock distribution building is the first of about 60 buildings planned for the project. SunCor plans to ultimately build-out with office, retail and industrial space. [...more...]

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