Commercial Real Estate & Business News – April 10, 2015

Get Ready For Arizona’s Tech Boom

Are you ready for it?Of course you?re not. Why would you be. You have no idea it?s happening, but it is. The good news is that the tech boom is probably going to be really good for you, but the bad news is that virtually everything is about to get more competitive. Here are three things that are going to change in dramatic ways in the next 5 years:… Read more »

Survey Shows Commercial Real Estate Poised For Three Years of Growth

The commercial real estate industry should see at least three more years of sustainable growth, based on a combination of sound economic and property market fundamentals, according to a survey of industry economists. The forecast from the Urban Land Institute (ULI) Center for Capital Markets and Real Estate, released April 8, shows commercial real estate transaction volume rising to $470 billion this year from $424 billion in 2014… Read more »

P.B. Bell Brings 286 Units to Glendale

The P.B. Bell Companies has begun construction on Velaire at Aspera, an apartment community within the Aspera mixed-use development in Glendale. Located at 75th Avenue and the Agua Fria Loop 101 Freeway, Velaire at Aspera will offer 286 luxury apartment homes in a resort-like setting, with amenities that include an electric-car charging station, an agility dog park and a state-of-the-art fitness facility with TRX equipment, in addition to other recreational opportunities… Read more »

Phoenix May Sell Downtown Sheraton Hotel

Phoenix is positioning itself to sell the financially troubled Sheraton Phoenix Downtown Hotel, a move that could force the city and taxpayers to absorb tens of millions of dollars in losses.City officials from Mayor Greg Stanton to Chief Financial Officer Neal Young said the city is refinancing debt on the hotel so it can get ready to sell the 1,000-room Sheraton, the largest hotel in the state… Read more »

Drugstore Chain Walgreens To Close 200 U.s. Stores

Drugstore retailer is planning to trim $1.5 billion in expenses over the next three years. Drugstore chain Walgreens Boots Alliance will close 200 stores as part of a plan to cut $1.5 billion in expenses over the next three years. Walgreens, which is still on the hunt for a new CEO after the exit of Greg Wasson late last year, also said it was still looking for a permanent successor… Read more »