Commercial Real Estate & Business News April 24, 2018

The Arizona Biltmore, the historic Phoenix resort that had hosted every U.S. president since Herbert Hoover until Barack Obama broke the streak, has been sold for $403.4 million. The 740-room resort near 24th Street and Missouri Avenue was sold to New York-based Blackstone Real Estate Advisors, according to public real estate records.…»
Phoenix, Ariz. – Ryan Companies US, Inc. completed a 271,000 square foot regional headquarters for McKesson, which is now home to more than 2,000 employees with room to accommodate nearly 2,200 total jobs. Ryan is now breaking ground on a third building adjacent to the two-story, twin buildings at Chaparral Commerce Center with capacity for approximately another 200 jobs over the next three years.…»
Existing home sales increased in March for the second consecutive month, however as inventory shortages persist, home sales continue to fall below last year’s levels, according to the latest release from the National Association of Realtors. Total existing home sales, completed transactions that include single-family homes, townhomes, condominiums and co-ops increased 1.1%…»
Phoenix, Ariz. – The Statesman Group announced today that it will launch nearly $200 million in luxury residential real estate within Desert Ridge next month, which will be available for purchase or rent with the introduction of The Luxe at Desert Ridge, 223 condominiums, and The Montreux, 335 apartments.…»
The company unveiled properties in Helena, Mont., Phoenix, and St. Paul, Minn., totaling 551 keys. Guest amenities include pools, meeting space and fitness centers. Hilton has opened three new DoubleTree by Hilton brand properties: DoubleTree by Hilton Helena Downtown in Helena, Mont., DoubleTree by Hilton Phoenix North in Phoenix, and DoubleTree by Hilton St. Paul in St. Paul, Minn.…»