Commercial Real Estate & Business News February 11, 2019
Scottsdale Multifamily Investor to Build $16.9M Project in South PhoenixA Scottsdale multifamily investor has purchased some vacant infill land in south Phoenix to build its own project, looking to ride the popularity of single-family hybrid rental communities. Avenue North LLC paid $2.05 million cash for 6.7 acres at the northwest corner of 16th Street and […]
Commercial Real Estate & Business News February 8, 2019
Big Desert Ridge Project Gets Green Light in PhoenixDeveloper Crown Realty & Development has acquired the master developer rights for 96.5 acres of land in the Desert Ridge area of Phoenix. The land site had been the subject of more than a decade of litigation over land rights and bankruptcy. Now that the litigation has […]
Commercial Real Estate & Business News February 7, 2019
How Does Mixed-Use Stack Up on the Capital Side?Equity investors continued to seek out multifamily in 2018 and lenders had plenty of capacity to place debt, but will the trend continue into 2019? Panelists took on that issue during the 2019 NMHC Apartment Strategies Outlook Conference here in San Diego. For Waterton, Philip Martin, SVP […]
Commercial Real Estate & Business News February 6, 2019
Job Growth to Fuel Phoenix Economy in 2019Phoenix was one of the leading metros in the country for employment growth in 2018, a trend that experts forecast will continue into this year as the economy shows no immediate signs of slowing. Phoenix added 76,900 new jobs in 2018…» Cuningham Group Unveils Plans for Millennium Park […]
Commercial Real Estate & Business News February 5, 2019
Jobs, Demand Drive US Office DevelopmentStrong demand for space-underpinned by healthy growth among office-using industries-keeps the U.S. office market’s performance steady, according to a survey of 115 markets conducted by Yardi Matrix. In 2018, business professional and technical services led expansion with the addition of 286,000 jobs, followed by strong growth in…» New Apartments Expected […]
Commercial Real Estate & Business News February 4, 2019
Competition Heats Up as More Builders Shift to Affordable Homes in ValleyCompetition is going to get hot and heavy in 2019 among homebuilders in the Valley, as they duke it out for a piece of the affordable housing market. More homebuilders are making a concerted effort to build for first-time homebuyers, shifting away from move-up […]