Commercial Real Estate & Business News April 3, 2019
Barker Pacific Group Acquires Phoenix’s City SquareIn a joint venture with Iron Point Partners, LLC, Barker Pacific Group (BPG) has acquired City Square, a three-building, 736,809 SF Class A office complex in Phoenix, Arizona. Offering panoramic views of the Phoenix Skyline and Camelback Mountain, the project is among the major Class A office properties on […]
Commercial Real Estate & Business News April 2, 2019
High-Rises Proposed For Downtown Phoenix Transit HubA major bus hub and light rail stop in downtown Phoenix could be getting a major makeover. The 2.564-acre city-owned site at Central Avenue and Van Buren Street is home to Central Station. It was appraised at $12,286,000 in October 2017. Now, a developer, Medistar, wants to build two […]
Commercial Real Estate & Business News April 1, 2019
West Valley Lags in Office Development but Primed for GrowthFor decades, the East Valley has been dominant over the West Valley in spec office building, but experts say they are seeing that changing, and Loop 101 will be the key to its growth. According to a report from JLL, a property consultancy company, the southeast […]
Commercial Real Estate & Business News March 29, 2019
New York Company Plans $7M Opportunity Zone Investment in GoodyearA planned 325,000-square-foot industrial complex in Goodyear will be the first opportunity zone investment for New York-based real estate investment firm EquityMultiple, which is working to raise $7 million to invest in the project. “We looked at easily 100-plus transactions in opportunity zones, and this struck […]
Commercial Real Estate & Business News March 28, 2019
CMBS Delinquency Rate Falls Below 3.00 Percent in FebruaryThe 30+ day CMBS delinquency rate fell below 3.00 percent in February, as market observers previously predicted. Research firm Trepp reports that the delinquency rate for all property types fell 15 basis points month-over-month to 2.87 percent. The figure was 164 percent lower than the 30+ day […]
Commercial Real Estate & Business News March 27, 2019
After Sluggish Q4, Valley Homebuilders Now Bullish on Spring Selling SeasonComing off a bit of a sales lull during the fourth quarter of 2018, Valley homebuilders are confident about home sales this spring. Officials with Tempe-based Fulton Homes and Scottsdale-based Maracay Homes say they’re gearing up for a strong market during the next few months. With 5,000 […]