Commercial Real Estate & Business News – April 16, 2015

Continuing the broad recovery across all property types and throughout most U.S. markets, commercial real estate prices again moved upward in February, reflecting solid occupier demand as well as widening investor interest in smaller properties outside the largest U.S. metros… Read more »
Since bottoming five years ago this quarter, the average per square foot price being paid for single-tenant net leased retail properties has now surpassed their pre-recession highs of 2007. The average price increased to about $263 per square foot in the past quarter, up from its low of about $175, according to CoStar Group sales data… Read more »
A Phoenix-based company had most apartment starts in the U.S. in 2014, according to a new ranking by an industry group. Alliance Residential Co. had 7,500 apartment starts last year and has 11,000 units under construction… Read more »
HSL 44 Monroe, LLC, is excited to announce the $50.65 million purchase of a controlling interest in 44 Monroe, Arizona’s tallest luxury residential tower featuring breathtaking penthouse living. Located at 44 Monroe on the northeast corner of 1st Avenue and E. Monroe Street, the property is located in the heart of the downtown Phoenix financial district. HSL purchased 184 condominium units in the 198-unit tower. HSL will continue to operate the property as a luxury apartment home building… Read more »
Phoenix had the worst retail vacancy rate among large U.S. cities last year but hopes to shed that distinction this year. A new report on the retail real estate market in major U.S. markets shows Phoenix ended 2014 with a 10.5 percent vacancy rate… Read more »