Commercial Real Estate & Business News April 5, 2019

The Top 10 Cities for CRE Investment
Investors are consistently turning to real estate as a stable haven for their investment dollars. What may be surprising is that the top investment locales for 2019 are not gateway cities, according to real estate tech marketing firm SetSchedule’s new housing report. It identifies 10 cities as the top markets to target year: Indianapolis, IN;…»

Ritzy Offices Planned for Scottsdale/Paradise Valley Project Palmeraie
Upscale offices will be added to the mix at a luxury shopping and resort development called the Palmeraie on the Scottsdale/Paradise Valley border. Five Star Development is planning two, four-story office buildings of what it’s calling “Class AA+” space at the $2 billion project that includes a Ritz-Carlton, Fendi-designed homes and…»

Phoenix Condo Project Sells Out in Record Time
Housing demand is growing rapidly in Phoenix, and while the city has historically been a single-family market, high-rise multifamily and condo product is growing in popularity. The Optima Kierland Center in Scottsdale is a perfect example of demand for condo product. In 2016, the project sold in record time-220 units in nine months. The pace of…»

Short of Workers, US Builders and Farmers Crave More Immigrants
It takes Carlos Rojas two and a half to three hours to drive from his home in Stockton, California, to a job spreading plaster on houses going up in Campbell, on the southern rim of Silicon Valley. The trip is worth it, though. The 30-year-old immigrant from the Mexican state of Oaxaca says he makes roughly $25 an hour, depending on…»

Tribes Putting Energy Into Economic Development
Many tribes are looking for ways to diversify industry in their Nations or Communities. Knowing that the cost of utilities can be a deciding factor in business attraction efforts, some tribes have taken the innovative step of forming their own electrical, water, and/or telecom/broadband utilities. Building utility infrastructure takes substantial…»