Commercial Real Estate & Business News November 22, 2019
Look Who’s Trending High in Multifamily Markets The multifamily market is on track to deliver another stellar year as numbers continue to come in from October’s performance. Yardi Matrix reports that average US rents rose $1 for the month to $1,476, reaching yet another all-time high, while year-over-year growth has been at least 3% for more […]
Commercial Real Estate & Business News November 21, 2019
Strong Economy Leads to Upgrade in Arizona’s Credit Rating A solid and increasingly diversified economy, along with prudent budget policies, have led to an upgrade in Arizona’s credit rating. Rating agency Moody’s Investors Service said it expects Arizona’s economy “will continue to perform positively and that the state will maintain ample reserves” in boosting Arizona’s rating […]
Commercial Real Estate & Business News November 20, 2019
Amazon Opens First Physical Bookstore in Arizona at Scottsdale Quarter Amazon on Tuesday opened its first physical store in Arizona, with the new outlet selling books, electronic devices and other products in the Scottsdale Quarter shopping center. The 4,000-square-foot Amazon Books location features an array of products that have been well-received by online customers – typically […]
Commercial Real Estate & Business News November 19, 2019
Sam Fox Hotel Project Heads to Phoenix City Council for Approval Phoenix City Council is set to decide this week the fate of a mixed-use project that will include a hotel developed by popular Valley restaurateur Sam Fox. A 17-acre project, known as 44|Camelback, would be on the northwest corner of 44th Street and Camelback Road. […]
Commercial Real Estate & Business News November 18, 2019
Goldman Eyes Real Estate Investments Away from Coastal Cities Institutional investors see opportunities in real estate in mid-size U.S. cities away from the coasts. Goldman Sachs Group Inc. is eyeing markets including Denver, Austin and Nashville, Jeffrey Fine, a managing director at the firm’s merchant-banking division, said Thursday at a conference hosted by the NYU School […]
Commercial Real Estate & Business News November 15, 2019
LivCor Pays $43M for Phoenix Asset In a $43 million deal, the P.B. Bell Cos. has sold Solis at Towne Center, a 240-unit Class A community near Phoenix, according to Yardi Matrix. LivCor, the buyer, assumed the outstanding balance of a $20.2 million loan from Allstate taken by the seller in 2016. The mortgage matures in […]