Commercial Real Estate & Business News – October 2, 2013
Sentinel Pays $57.75 Million ($209,234 per Unit) for Paragon at Kierland Apartments A company formed by Sentinel Real Estate Corp. in New York City paid $57.75 million to buy The Paragon at Kierland, a 276-unit apartment project at 15440 N. 71st Street in Scottsdale. The seller was Sunstone Paragon LP, a limited partnership formed by […]
Commercial Real Estate & Business News – October 1, 2013
Scottsdale’s Galleria Corporate Centre Sold to Triyar-Oaktree Partnership The Galleria Corporate Centre in Old Town Scottsdale has been purchased by a partnership between Triyar Cos. and Oaktree Capital Management. Steven Yari, who co-owns Triyar with his brother, Shawn Yari, confirmed the transaction closed on Friday but declined to disclose the price due to a confidentiality […]
Commercial Real Estate & Business News – September 27, 2013
Arizona, Texas Head List Of Best States For Expected Job Growth The Great Recession had devastating effects across the U.S. and few places were as hard hit as Arizona. The state was booming on the strength of its tourism and real estate markets during the 2000s. Median home prices jumped 70% between 2003 and 2006 […]
Commercial Real Estate & Business News – September 27, 2013
Foreign Investment in U.S. CRE Grows Foreign investors continue to snap up ownership stakes in major landmarks ranging from Manhattan office towers to Miami condo projects. That appetite for U.S. commercial investment property shows no signs of slowing any time soon… Read more Commercial Real Estate Prices on Upswing Commercial real estate pricing indices continue […]
Commercial Real Estate & Business News – September 26, 2013
Unemployment Rate Doesn’t Tell Full Employment Story Over the past months, AZBEX has reported on a growing shortage of construction workers, particularly in the specialty trades. The raw month-to-month numbers say otherwise. Construction led the job-shedding with a drop of 1,900 jobs for the month – the fifth time in 10 years the sector cut […]
Commercial Real Estate & Business News – September 25, 2013
Turner Real Estate Breaks Ground on Eight Buildings in Phoenix Turner Real Estate Investments of Newport, CA, broke ground this week on eight free-standing, speculative industrial buildings in Phoenix, Arizona. The buildings will be move-in ready with finished office and warehouse space beginning in the first quarter of 2014. They will range in size from […]