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 […]
Commercial Real Estate & Business News October 25, 2018
Sprouts Plans to Open 30 New Stores in 2019 After opening 30 grocery store locations around the country during 2018, Sprouts Farmers Market (NASDAQ: SFM) plans to do the same during 2019. The Phoenix-based specialty grocery chain announced Tuesday that next year the company plans to open approximately 30 stores, including seven during the first […]
Commercial Real Estate & Business News October 24, 2018
Apartment Permits in U.S. Hit Two-Year Low on Glut, Rising Costs It looks like U.S. apartment and condominium builders are reacting to rising costs and a supply glut the same way: slowing down. Multifamily housing permits – – those for buildings with two or more units – dropped last month to the lowest level since […]
Commercial Real Estate & Business News October 23, 2018
New Opportunity Zone Tax Guidance Expands Borrowing, Other Benefits for Real Estate Investors Accountants poring over the Treasury Department’s newly issued guidelines for Opportunity Zone tax incentives say they are uncovering additional benefits for commercial real estate investors such as allowing borrowed funds to be used for improvements. The incentives created by the 2017 Tax […]