Commercial Real Estate & Business News – June 8, 2016
ColRich Multifamily Purchases Two Scottsdale Apartment Complexes for $67.5 Million ColRich Multifamily purchased two adjacent Scottsdale apartment complexes yesterday from NorthStar Realty Finance for a total of $67.5 million, or $108,000 per unit. Each sale was funded by an assumption of the seller’s prior loans with US Bank, as well as new notes with Freddie […]
Commercial Real Estate & Business News – June 7, 2016
Phoenix Lands On Forbes List Of Growth Cities Downtown is currently experiencing more growth than in its entire history, with $500 million in construction projects and more than $4 billion in total investments since 2008. This year, it ranked 11th on Forbes’ list of fastest-growing cities in America and is projected to be the fourth […]
Commercial Real Estate & Business News – June 6, 2016
Consumer Spending Up Consumer spending has accelerated at its fastest lick in almost seven years, with personal spending increasing 1 percent in April over March, the Commerce Department announced Tuesday. The performance is markedly better than March, when consumption was flat, and February, when it rose just 0.2 percent. The impact of this increase on […]
Commercial Real Estate & Business News – June 3, 2016
Industrial Developer Icon Of 2 Million SF Releases Portfolio Developed by Turken Industrial Properties Inc. from 1973 to 1985 on nearly 20 acres, multiple properties within a 363,000-square-foot industrial portfolio were recently acquired in a transaction valued at $16.5 million. The buyers were Presson Corp. and an affiliated group comprised of four entities that were […]
Commercial Real Estate & Business News – June 2, 2016
Express Scripts Leases 81,000 SF in Liberty Center at Rio Salado Express Scripts, an integrated pharmacy benefit management service which bundles and ships more than 1.3 billion prescriptions annually, has signed a lease for 81,300 square feet of industrial space at the Liberty Center at Rio Salado building at 2040 W. Rio Salado Pky in […]
Commercial Real Estate & Business News – June 1, 2016
Ritz-Carlton Residences Will Debut First Release The upcoming $2 billion Paradise Valley resort community Ritz-Carlton project is set to unveil the first release of 91 villas in a private event, and developers expect all of the Residences will be reserved. The June 11 event will show the Ritz-Carlton Residences, priced from the low $1 million […]