Commercial Real Estate & Business News August 15, 2018
3 Valley Cities Each Have 1,000-Plus Homes Approved for Construction More than 11,000 single-family permits have been issued by municipalities throughout metro Phoenix during the first six months of the year, an increase of 18 percent from a year earlier. Phoenix had the most with 1,955 permits to build homes through June, a 48 percent […]
Commercial Real Estate & Business News August 14, 2018
Multifamily Rent Growth Heating Up in Phoenix Phoenix continues to be a mainstay on the national list of top markets for rent growth. At the end of 2018’s second quarter, the Valley’s rents grew 5.7 percent year-over-year for the third-best mark in the nation after other Sun Belt metros, Orlando, 6.9 percent, and Las Vegas, […]
Commercial Real Estate & Business News August 13, 2018
Arizona GDP Growth Outpaces National Rate Arizona’s gross domestic product grew by 2.5 percent in the first quarter of 2018, driven by increases in real estate and retail trade, according to a report from the Bureau of Economic Analysis. The BEA report, released last month, said finance and insurance, health care, and durable goods manufacturing […]
Commercial Real Estate & Business News August 10, 2018
Big-Box Retailers Come Up with Small Concepts to Grow in a Changed Landscape The old adage that “everything’s bigger in Texas” gets thrown around a lot. However, that’s not necessarily the case for Walmart as it’s testing a small-format store concept in the Dallas-Fort Worth market. The big-box retailer is building 3,000-sq.-ft. convenience stores with […]
Commercial Real Estate & Business News August 9, 2018
New York Investor Blackstone Snatches up $898 Million in Metro Phoenix Real Estate One of world’s largest real estate investors just went on an apartment-buying spree in metro Phoenix, purchasing six apartment complexes for almost $311 million. New York-based Blackstone Group closed on the apartments spanning from Surprise to Chandler on Monday, according to public […]
Commercial Real Estate & Business News August 8, 2018
Shea Homes Plans to Invest $122M to Build 2 New Communities Shea Homes is investing $122 million to develop two communities in the East Valley. Plans call for investing $110 million to continue building more homes at Gateway Quarter near Ellsworth and Germann roads in Queen Creek. The homebuilder initially bought 540 home sites and […]