Commercial Real Estate & Business News April 11, 2018

The Phoenix metro area cracked the top 20 in the latest measure of best places to live in the United States, helped by an influx of new residents. Phoenix made significant progress, jumping to 19th place from 44th place last year in the study by U.S. News & World Report. Metro Phoenix – along with Columbus, Ohio, and the Palm Bay-Melbourne area of Florida’s east coast – all benefited from a significant migration influx, the magazine reported…»
The grocery store industry is one of the most competitive industries out there and in Phoenix that competitiveness is heightened. “There is competition everywhere for grocers. Particularly in the Arizona market that is oversaturated with traditional grocery stores and convenience stores in addition to things like Amazon,” Phil Hawkes, Bashas’ vice president of marketing, merchandising and procurement…»
TEMPE, Arizona, April 9, 2018 – With demand for Tempe, Arizona office space at an all-time high, Lincoln Property Company (LPC), Goldman Sachs and City of Tempe Mayor Mark Mitchell broke ground today on the second Class A office building at The Grand at Papago Park Center. otaling 352,000 square feet at 1027 W. Roosevelt Way in Tempe, Arizona, The Grand Building Two is one of Arizona’s largest ever office buildings to break ground as a purely speculative endeavor…»
After years of trying to sell the Smoke Tree Resort, the Williams family finally found a buyer. The resort at 7101 E. Lincoln Drive in Paradise Valley has been touted as the longest-running independent hotel property in the area. It sold for $10.2 million. Frank Aazami and Jean-Michel Edery, brokers with Russ Lyon Sotheby’s International Realty, represented both the buyer and seller in the off-market transaction…»
Foreclosure rates in Arizona are down, and for both the state and its major metro areas remain lower than the national average. That comes from the latest CoreLogic LPI report looking at foreclosure rates, and serious delinquency rates and 30-day delinquency rates. Arizona, and its major metros are below already-declining national averages in all three categories…»