Commercial Real Estate & Business News – April 9, 2021
$14M Transformation of Hayden Station on Mill Ave. is Coming Phoenix-based developer George Oliver has announced plans for its next Arizona experiential office transformation: the five-building Hayden Station mixed-use office campus, located on the southwest corner of Mill Avenue and Third Street in the heart of downtown Tempe. Built in 1986, Hayden Station has,…» What […]
Commercial Real Estate & Business News – April 8, 2021
Phoenix Market Ranks No. 3 for Year-over-year Rent Growth Rents are on the rise across the country, and that’s a positive indicator for the industry and the economy at large, reports Yardi Matrix. Multifamily rents increased by 0.6% on a year-over-year basis in March, with the national average rising by $6 to $1,407. “Nationally,…» Fry’s […]
Commercial Real Estate & Business News – April 6, 2021
Net Lease Cap Rates Hit Historic Lows In the first quarter, the single-tenant net lease sector reached historic lows for the retail and industrial sectors, according to new research from The Boulder Group. In Q1, single-tenant retail cap rates compressed by nine basis points to 5.91%. Industrial cap rates fell…» KB Home Buys 109 Acres […]
Commercial Real Estate & Business News – April 5, 2021
The ‘Aging Millennial Generation’ is Driving Housing Market The light at the end of the tunnel is growing brighter for housing investors, particularly as vaccine rollouts gather steam and the economic recovery widens. In a recent video breaking down what’s driving the single-family housing market, John Chang, senior vice…» The Watermark | Tempe in Arizona […]
Commercial Real Estate & Business News – April 2, 2021
A Hint of What’s to Come for Dying Malls: Phoenix Mall Owner Sells out as Property is Rezoned for Other Uses The future of the suburban shopping mall could look something like a mini community, with far fewer places to shop. The U.S. mall owner Macerich announced Thursday it’s sold a majority stake in Paradise […]
Commercial Real Estate & Business News – April 1, 2021
Phoenix Multifamily Market Hits $42B in Sales Over the Last Decade The Phoenix multifamily market is officially among the top in the nation. According to a new report from Commercial Search, the city is ranked sixth in the nation for multifamily sales over the last decade. The market has closed $42 billion in apartment investment […]