Commercial Real Estate & Business News – April 27, 2015

Alliance Residential Company’s Broadstone brand of apartment communities did well in the Phoenix Businesses Journal’s Exclusive Apartments list, taking two out of the top three spots when the list was published today. The list was based on information from Yardi Matrix data provided by Pierce-Eislen, with the ranking coming from most-expensive rents charged for a one-bedroom apartment… Read more »
Businesses are showing their confidence in the economy in early 2015, actively seeking growth and space expansion. Though national office fundamental growth crawled even slower in the first quarter than in previous months, it’s clear the industry’s reset button has been hit hard, experts say, and the next three years should beat records for quick rent growth and absorption… Read more »
For the first time, metro Phoenix is growing up more rapidly than out. A record number of high-rise, townhouse and loft housing developments are shooting up in central Phoenix, Scottsdale and Tempe, and selling out quickly. Condominium sales are climbing faster than regular home sales in the Valley, a reversal of the region’s growth pattern since the 1950s… Read more »
Wetta Ventures announced today the redevelopment of a prime piece of Camelback Corridor commercial space on the northwest corner of Camelback Road and 20th Street in Phoenix across from The Shops at Town & Country and Camelback Colonnade. Caldwell & Ober law firm currently occupies the 12,130 square foot, two-story building that will be redeveloped into retail and creative office space. Renovation is slated to begin in early September… Read more »
The City of Peoria recently developed a Commercial Revitalization Program encompassing a targeted area in Old Town Peoria. The city’s goal is to use the program as a tool to revitalize the commercial district and reinvigorate private investment in the properties. The revitalization efforts will help to eliminate slum and blight, promote commercial reinvestment activities, improve aesthetics of the Old Town Area, and enhance the overall quality of life for Peoria residents… Read more »