Commercial Real Estate & Business News November 2, 2018
Construction Begins on Downtown Chandler Mixed-use Development Construction has begun on the first phase of a $57 million mixed-use development in downtown Chandler. The project, called New Square, will be built in two phases. The first phase will include 50,000 square feet of office space, a 110-room Hilton Garden Inn and 9,000 square feet of […]
Commercial Real Estate & Business News November 1, 2018
Tempe Again a Top Office Submarket for Tech Companies After topping the list for rent growth last year, Tempe continues to be a top submarket for tech companies, according to a report this week from CBRE. Between the second quarter of 2016 and the same time in 2018, Tempe experienced a 15.8 percent increase in […]
Commercial Real Estate & Business News October 31, 2018
Happy Halloween! $700 Million Mixed-use Development Proposed Along Downtown Scottsdale Canal Carter Unger’s father, Fred Unger, spent decades acquiring property along the canal in Scottsdale with a dream of developing a second phase to his SouthBridge project at Stetson Drive north of Sixth Avenue, but he passed away in January before the dream could be […]
Commercial Real Estate & Business News October 30, 2018
Chase Tower, Arizona’s Tallest Skyscraper, Sells for $107.5 Million Arizona’s tallest skyscraper – Chase Tower in downtown Phoenix – has sold again. A New York group called Viola Lordsmeer L.P. paid $107.5 million for the 40-story tower, according to public property records. The sellers, a partnership managed by Phoenix-based Wentworth Property Co., bought the building […]
Commercial Real Estate & Business News October 29, 2018
Moody’s Turns Positive on the Retail Industry Moody’s is bullish on retail, upping both its operating income and sales growth forecasts. Moody’s Investor Services said Thursday that its outlook for the U.S. retail industry has turned positive for the first time since mid-2015. In a new report, Moody’s said retailers are finally starting to reap […]
Commercial Real Estate & Business News October 26, 2018
Is Lack of Affordability Triggering an Exodus From Coastal Markets? According to Redfin’s latest migration analysis, in the third quarter of 2018 people continued to relocate from costly coastal markets like San Francisco, New York, Los Angeles and Washington, D.C. Now, cities like Atlanta, Phoenix and Sacramento are enticing thousands of potential new buyers due […]