Commercial Real Estate & Business News – November 10, 2014
Market Trend: Phoenix Office Deliveries, Construction and Inventory During the third quarter 2014, seven office buildings totaling 609,462 square feet were completed in the Phoenix market area. This compares to one building totaling 100,622 square feet that were completed in the second quarter 2014. There were 2,404,819 square feet of office space under construction at […]
Commercial Real Estate & Business News – November 7, 2014
Greenfield Partners Spends $41.21 Million For RREEF Portfolio Companies formed by Greenfield Partners in Westport, Conn. (Eugene Gorab, principal) paid $41.21 million ($71.62 per foot blended) to purchase 575,430 sq. ft. of office and industrial buildings in Phoenix and Tempe. The seller in five separate sales was RREEF America REIT II Portfolio L.P., which is […]
Commercial Real Estate & Business News – November 6, 2014
CRE Remains Bright Spot In Flat September for U.S. Construction Spending on office, hotel, retail and other commercial real estate projects provided a strong lift during an otherwise flat September for U.S. construction spending, according to the latest government figures. Overall nonresidential construction spending slipped a seasonally adjusted 1% to a preliminary $596 billion in […]
Commercial Real Estate & Business News – November 5, 2014
Chandler Eyesore (Finally) Set for Demolition Demolition contractor BCS Enterprises of Gilbert has won the contract to tear down the abandoned structure northwest of the intersection of Loops 202 and 101 in Chandler to make way for the mixed-use project Chandler Viridian. The eyesore, previously known as Elevation Chandler contains a skeleton of concrete and […]
Commercial Real Estate & Business News – November 4, 2014
Malls Fill Vacant Stores With Server Rooms The Internet is moving to a shopping center near you. As America?s retailers struggle to keep up with online shopping, the Internet is starting to settle into some of the very spaces where brick-and-mortar customers used to shop. The shift brings welcome tenants to some abandoned stretches of […]
Commercial Real Estate & Business News – November 3, 2014
US Real Estate Price Growth Slows To More Realistic Level Home value growth has peaked in the United States and the cooling real estate market has banished concerns about a property bubble, according to experts. Home values are still rising in most markets, but the rate of appreciation has slowed considerably, making the housing market […]