Commercial Real Estate & Business News – August 23, 2016
Economy Watch: More Hints of an Upcoming Interest Rate Hike So far, recent fairly positive data about the U.S. economy seems to be on the side of higher rates. On Friday, the Conference Board released a little more of that (fairly) positive data: its Leading Economic Index increased 0.4 percent in July to 124.3 […]
Commercial Real Estate & Business News – August 22, 2016
Fed Official Says U.S. Economy “Close to Our Targets” The U.S. economy is close to the Federal Reserve Board’s job and inflation targets, and growth is expected to pick up in the coming months, Stanley Fischer, the central bank’s vice chairman, said Sunday…» Is Suburban Office Market Set for a Comeback? Big city office markets […]
Commercial Real Estate & Business News – August 19, 2016
Crescent Scottsdale Quarter Apartments Sell for $87 Million In what is the highest price per unit ever paid for a conventional multi-family project in the Valley, a pension fund advised by INVESCO Realty Advisors in Dallas, Tx. paid $87 million ($316,364 per unit) to buy the 275-unit Crescent Scottsdale Quarter apartments at 15345 N. Scottsdale […]
Commercial Real Estate & Business News – August 18, 2016
Phoenix-Area Hiring Makes Big Turn to High-Value Jobs Just two years into a concerted effort to shift the entire greater Phoenix economy from consumption jobs to production jobs is showing double-digit results in several advanced industries. “It’s an enormous effort to pivot an economy, and the data show Phoenix is starting to turn,” …» Conair […]
Commercial Real Estate & Business News – August 17, 2016
Apartment REITs Return to Buying Properties After a very slow start to the year, apartment REITs may buy a few more properties as their stock prices recover. Case in point: Mid-America Apartment Communities just announced its deal to buy Post Properties for nearly $4 billion. The giant acquisition reverses the trend…» Why So Many Businesses […]
Commercial Real Estate & Business News – August 16, 2016
Passco Pays $82M For Another $200,000+ Per Unit Apartment Project In its second Valley investment since December, Passco Cos. LLC in Irvine, Calif. (William “Bill” Passo, CEO) paid $81.988 million ($210,765 per unit) to acquire the 389-unit Almeria at Ocotillo apartments at 2470 and 2471 W. Edgewater Way in Chandler. The seller was Bell GD […]