Commercial Real Estate & Business News – September 18, 2014
$150M Chandler Viridian Project Zoning Entitlement Approved The Chandler City Council on Thursday night approved zoning and a development agreement for Hines to develop the Chandler Viridian mixed-use project located near the Chandler Fashion Center and Loop 101/Loop 202 interchange. The 25-acre project will include a modern brand hotel, Class A multi-family and a central […]
Commercial Real Estate & Business News – September 17, 2014
Report: Phoenix-Area Commercial Properties Less Risky Commercial properties in the Phoenix area, especially the East Valley, are among the most undervalued in the nation and thus relatively attractive to investors, especially if interest rates start pushing higher next year. That’s the assessment from Mascia Development LLC, a New York company that evaluated 350 metro areas […]
Phoenix Housing Market Bust, But Not Really
This morning I attended the ASU Real Estate Council event and Mike Orr was the guest panelist. He shared many new insights into the current lackluster performance of the Phoenix Housing Market and some of the recent causes for the lack of performance. Some interesting facts: -Jan 2011 the Avg Normal Sale/SF was $111/SF -July […]
Commercial Real Estate & Business News – September 16, 2014
San Diego-based Investor Makes First Valley Buy…Drops $48 Million For 582 Apartments Phoenix Uprising LLC, a company formed by investor Donald Dougher, II of San Diego, Calif., paid $48 million ($82,474 per unit) to acquire the 582-unit Sierra Ranch apartment complex located at 4722 E. Bell Road in Phoenix. The seller was FSC Saddleback Associates […]
Commercial Real Estate & Business News – September 15, 2014
Consumer Spending Showing Renewed Life Economists are revising up estimates for consumer spending in the current quarter and the rest of 2014 after last week’s solid retail sales report and strong data on health care outlays. Retail sales jumped 0.6% in August, a four-month high, and July’s previously flat reading was revised to a 0.3% […]
Commercial Real Estate & Business News – September 12, 2014
Cloudy Outlook for Retail Loan Delinquencies Retail CMBS loan delinquencies have fallen to their lowest level since 2009, but experts worry that store closings, along with e-commerce, could negatively impact loan performance in the future, especially when borrowers try to refinance. “The downward trend has continued for retail over the trailing 12-months, one that truly […]