Commercial Real Estate & Business News – April 26, 2016

Students are quickly signing leases to live at off-campus student housing communities when the new academic year starts this fall, pushing rents higher despite competition from the thousands of new student housing beds that developers plan to deliver. “Pre-leasing is ahead of last year at this time,” says Kenny Emson, senior vice president of finance and administration for the National Multifamily Housing Council… Read more »
A 100,000-square-foot flex industrial building is going up at the corner of Gilbert and Queen Creek Roads. The flex industrial concept is unique in that it allows a mix of uses within the same tenant space such as retail or a showroom in the same building as office, R&D, a lab, a call center or distribution or manufacturing uses. Construction is expected to begin in July with completion in first quarter 2017, according to developer, The Rockefeller Group… Read more »
Old Town Scottsdale is getting another new restaurant concept. Farm + Craft is opening in June at the former Stingray Sushi at 4302 N. Scottsdale Road, under the ownership of Riot Hospitality Group, which owns popular Old Town bars Hefe and Dierks Bentley’s Whiskey Row. The new concept will be fast-casual, offering dining options throughout the day, with full service in the evenings. Farm + Craft is heavily focused on healthy eating…Read more »
The urban cluster of high-density housing, offices and retail shops emerging in north Scottsdale could soon take another leap forward with about 1,000 condos or apartments proposed by two developers. Both would rank among the area’s largest residential complexes while adding an array of new stores and restaurants near Scottsdale Quarter, Kierland Commons and the Scottsdale Airpark, one of metro Phoenix’s largest employment centers…Read more »
Scottsdale will have its second Postino WineCafe next week. The seventh Postino in the Valley — dubbed Postino Highland — will open Wednesday, May 4 in the former Valley National Bank at 4821 N. Scottsdale Road. Upward Projects, the Phoenix-based group behind Postino and other notable eateries such as Windsor and Joyride Tacos, had been eyeing the building for some time… Read more »