Commercial Real Estate & Business News – April 20, 2015

Phoenix Housing Starts, Home Sales Surge In March

Housing starts were up 37 percent in the Phoenix area last month compared to a year ago, and existing home sales surged 29 percent as the real estate market looks for improvements after a slow 2014, according to new industry data. RL Brown Housing Reports monthly real estate statistics show a healthy bump for housing permits taken out by builders in the Phoenix region for both March and the first quarter… Read more »

Scottsdale Investor, Phoenix Builder To Finish 900-acre Development

Scottsdale-based Harvard Investments and Phoenix-based home builder Brookfield Communities are partnering to build the final phase of a 900-acre development along the Colorado River in Bullhead City. Harvard ? a real estate development and investment firm ? and Brookfield have formed a joint venture to build the remaining 700 homes at the Fox Creek development. The project already has 1,400 homes and 3,000 residents… Read more »

Commercial Assets in Walkable Locations Command Premium Prices, Rents

It?s a maxim that industry professionals have been adhering to for some time, but a new Walk Score Commercial Property Price Indices (CPPI) released by research firm Real Capital Analytics (RCA) proves it: commercial properties in what are considered to be ?walkable? locations, in both city cores and suburban markets, get premium pricing from tenants and real estate investors… Read more »

Roosevelt Row Highlights Downtown Phoenix’s Growing Pains

Some have dreamed of this day in Phoenix, others have feared it and most everyone agrees that it promises to change everything: Downtown is finally cool. For years, city leaders have worked to transform Phoenix’s urban core from a place people fled after the workday into an around-the-clock destination for students, residents and professionals. They’ve waited through an economic recession and used incentives to draw investors to build here… Read more »

70K SF in New Leases, Renewals at The Esplanade

The Esplanade is re-asserting its position on the Camelback Corridor with 70,000 square feet in new leases and renewals completed by the Phoenix office of JLL, and a $9 million renovation in the works by MetLife, Inc., owner of The Esplanade buildings I, II, IV and V… Read more »