Commercial Real Estate & Business News – August 26, 2014
IREM Report: Shopping Centers Generating More Income Shopping centers across the country are generating more sales and income, based on the latest findings from Chicago-based IREM. The association?s 2014 Income/Expense Analysis: Shopping Centers reports that the median income for open shopping centers across the country stood at $17.18 a square foot in 2013. That?s up […]
Commercial Real Estate & Business News – August 25, 2014
Large Phoenix Apartment Complex Faces Foreclosure A large Phoenix apartment complex faces foreclosure over a $59.4 million loan. The 856-unit Saratoga Ridge Apartment Homes complex at Bell Road and 14th Street faces a foreclosure sale on November 4. The complex is owned by GS Saratoga Ridge LLC, an arm of Charleston, South Carolina-based Greystar, according […]
Commercial Real Estate & Business News – August 22, 2014
Crow Holdings Buying Tempe Apartments in $47+ Million Deal Crow Holdings is expected to pay just over $47 million ($115,319 per unit) to acquire the 408-unit Grigio Metro apartments at 1811 E. Apache Boulevard in Tempe. The seller is a company formed by Gray Development Group and Canyon Johnson Urban Funds… Read more » Alter Group Books $16m […]
Commercial Real Estate & Business News – August 21, 2014
Supply Surge: Multifamily Permits Jump 23.6% in July When multifamily permits surged to 436,000 units in April, some observers naturally began to express caution. Then June?s 309,000-unit figure represented a 10-month low. And now, with permits barreling past 380,000 units, the concerns have grown even louder. In fact, in noting the 23.6 percent increase from […]
Commercial Real Estate & Business News – August 20, 2014
Lenders Look for Opportunities Beyond Multifamily Projects The construction boom is spreading to office buildings, industrial projects and even residential condominium projects as top lenders look to add more variety to their balance sheets… Read more » Beverly Hills Billionaires Buy 1,100 Arizona Apartments for $34.7M The real estate arm of the billionaire Nazarian family has bought […]
Commercial Real Estate & Business News – August 19, 2014
Downtown Phoenix to Add 3 New High Rises Phoenix can expect more high-rise buildings as developers have at least three new projects in the works for downtown. Downtown officials say there?s another planned high-rise on the northwestern corner of Central Avenue and Van Buren Street. However, Phoenix Planning and Development officials said they have not […]