Commercial Real Estate & Business News April 19, 2018
New $100 Million Apt. Tower Coming to Downtown Phoenix North American Development Group will break ground later this year on a new 30-story luxury multifamily tower that, upon, completion, will stand as the second tallest residential building in downtown Phoenix. The Markham, Ontario-based firm acquired a .9-acre tract within the Arizona Center for the site […]
Commercial Real Estate & Business News April 18, 2018
Competition Intensifies for Value-Add Assets For the past several years, investors have turned to the value-add strategy when seeking out-performance in a competitive commercial real estate landscape. And it appears the interest in these type of deals has only intensified lately, with competition becoming increasingly stiff as the industry faces the likely end of the […]
Commercial Real Estate & Business News April 17, 2018
Aldi in Arizona: Discount Grocer Opening Store in Buckeye BUCKEYE, AZ – No-frills grocer, Aldi, has plans to open a store in Buckeye, Arizona. Anne De Chance, communications manager for the City of Buckeye, said the discount grocery chain broke ground last week near Yuma and Watson roads. She said the store would open either […]
Commercial Real Estate & Business News April 16, 2018
In Spite of Waves of Store Closures, Retail Vacancy Hasn’t Spiked in the First Quarter Retail vacancy levels stayed relatively flat for the first quarter of the year, according to preliminary data from real estate research firm Reis. Industry experts say that despite accounts of retail bankruptcies and store closures, the sector is poised to […]
Commercial Real Estate & Business News April 13, 2018
Hines JV Tops Off Phoenix Office Building A joint venture between Hines and New York Life Real Estate Investors have topped off the Offices at Chandler Viridian, a 250,000-square-foot building in Chandler, Ariz. The partnership broke ground on the Phoenix-area office development last September and is set to complete it in the fourth quarter of […]
Commercial Real Estate & Business News April 12, 2018
One Attraction Still Drawing Shoppers to Malls: Food You might’ve noticed more and more mall food courts are changing, ditching fast food chains for local eateries. And that’s not an accident. Mall owners say they’ve been steadily increasing the percentage of retail square footage at any given property dedicated to food and beverage, creating new […]