Commercial Real Estate & Business News – June 12, 2014
Optima Assembling Kierland Site for Residential-Hotel Project A prime property located along Scottsdale Road at the entrance to the Kierland community is planned for a $250 + million residential and hotel project. The mixed-use complex is being proposed by the developer of the popular Optima luxury residential communities. Optima DCH Development Inc. is in the […]
Commercial Real Estate & Business News – June 11, 2014
New Buyer From Oregon Spends $33.3 Million For 252 Apartments In Chandler In its first investment in the Valley, Oregon Pacific Investment and Development Co. in Portland, Ore. (Randy Lovre, Julie Leuvrey, co-presidents) paid $33.3 million ($132,143 per unit) to acquire the 252-unit Pinnacle Queen Creek apartments at 800 W. Queen Creek Road in Chandler. […]
Commercial Real Estate & Business News – June 10, 2014
Home Prices Under Peak in 46% of Counties Home prices in 46% of US counties were still 30% or more below their 10-year peaks in March, according to RealtyTrac. The firm reports that while 724 counties fell into this category, 315 counties – 20% – reached a new 10-year peak in 2013 or 2014. Major […]
Commercial Real Estate & Business News – June 9, 2014
Equus Fund Invests $44.15 Million To Buy 223,131 Sq. Ft. of Office Space in Scottsdale Companies formed by Equus Capital Partners paid $44.15 million ($197.87 per foot blended average) to buy 223,131 sq. ft. of office space in two properties in Scottsdale. The sellers in two separate transactions were non-profit pension fund trusts managed by […]
Commercial Real Estate & Business News – June 6, 2014
Arizona Banks Leading Resurgence in CRE Lending, Multifamily Lending Up 15% Nationally Going by percentages, Arizona banks increased their CRE loans outstanding by 50% year-over-year. Utah followed at a 27% increase. Banks in both Arizona and Utah could see their increasing CRE loan totals continue to grow. Nevada banks’ outstanding CRE loans have declined 33%, […]
Commercial Real Estate & Business News – June 5, 2014
Surprise Could Be in the Running for $5B Tesla Factory The Phoenix suburb of Surprise could be a serious contender to land Tesla Motors Inc.’s coveted $5 billion electric battery factory. The Surprise City Council was set to meet in a private executive session to discuss a possible new business operating at the Southwest Railplex […]