Commercial Real Estate & Business News April 13, 2018

A joint venture between Hines and New York Life Real Estate Investors have topped off the Offices at Chandler Viridian, a 250,000-square-foot building in Chandler, Ariz. The partnership broke ground on the Phoenix-area office development last September and is set to complete it in the fourth quarter of this year, with the first tenants expected to move in by November…»
Harvard Investments Inc. is pumping more than $40 million this year into Phase I of its 464-acre Cadence at Gateway master-planned community in east Mesa. That’s on top of the $37 million the Scottsdale-based real estate investment and development firm paid to Pacific Proving LLC for 564 acres near Ellsworth and Ray roads in 2012. Back then, Harvard sold off 100 of those acres to AV Homes for nearly $17 million…»
Housing Trust Group has completed the first phase of its two-phase project Aviva, a luxury community in Phoenix’s suburb of Mesa, Ariz. This project marks HTG’s first development in Arizona, which will be managed by Mark-Taylor Residential. Located at 8340 E. Baseline Road, phase one of Aviva comprises 166 units across four residential buildings. At this time, 73 percent of the units delivered are leased…»
It’s been a long, hard road to recovery for metro Phoenix’s boom-and-bust-battered housing market. But some Valley neighborhoods are there – back to 2006 price levels, and higher. And other neighborhoods are very close. As expected, millennial first-time homebuyers are propelling the recovery. Metro Phoenix home prices are rising the fastest in many of its most affordable, centrally located neighborhoods…»
Single-family rentals have been the fastest growing segment of housing over the past 10 years, outpacing apartment rentals. This rise in linear living, caused by the inability to attain homeownership for many of today’s residents after the housing market crash, has been more drastic in some markets than others. RENTCafé recently studied 30 of the nation’s largest cities to determine which markets saw the most growth in single-family rentals…»