Commercial Real Estate & Business News April 16, 2019

Phoenix Office Absorption Hits 10-year high According to JLL’s Q1 Phoenix Office Market Report, metro Phoenix has absorbed more than 1 million square feet of office space since the first of the year – a quarterly high not seen in over 10 years. This is already massively ahead of 2018, which though a notable year for local office space recorded 1.7 million square feet in total absorption for the full…»
Why Opportunity Zone Projects Need to Develop Best Practices
Opportunity zone investors should develop an industry-adopted set of best practices. There is a frenzy around the new investment model-which provides an exemption for capital gains tax in exchange for investing in neglected communities-but investors need to remember the social impact component of the legislation. These best practices include job…»
Tempe Retail Trades at High Price per SF of $511
Situated on the northeast corner of McClintock Drive and Apache Boulevard, the 1,400 square foot, freestanding building closed for $715,000, or $511 per square foot. 1800 East Apache Boulevard sits on approximately 0.39 acres of land and there is redevelopment potential using the existing CSS zoning. Sitting adjacent to a light rail stop makes for…»
Developer of Luxury ‘Live/Work’ Community in North Scottsdale to Add More Homes
The developer of the first live/work community in north Scottsdale has seen such a positive reaction to the initial phase of her high-end project that she’s embarking on the second phase of construction.Total development costs for the entire 74-unit project is about $35 million, said Irene Catsibris Clary, founder and president of…»
Store Closings are Only Part of a bigger – and More Positive – Story for the Retail Industry, Execs Insist
Retail-industry executives have more than a few chips on their shoulders. They’re tired of being portrayed as a business in decline, even in a death spiral, despite a continuing trend that could see more big-name chains closing brick-and-mortar locations for years to come. No matter. All those headline-grabbing consolidation announcements portray only part of the…»