Commercial Real Estate & Business News August 13, 2019

The Ritz-Carlton, Paradise Valley Prepares for Summer 2020 Opening Set in the coveted resort town of Paradise Valley, Ariz., within the heart of vibrant Scottsdale, construction on The Ritz-Carlton, Paradise Valley is well underway for the luxury property that will span over 20 acres and boast 215 guest accommodations. “We are thrilled to expand our resort portfolio with The Ritz-Carlton, Paradise Valley and…»
Foreign CRE Investors Benefit from Lower Hedging Costs
The drop in interest rates is creating favorable ripple effects across the commercial real estate market in terms of lowering the cost of capital. Some foreign investors could also cash in on hedging costs that have moved significantly lower over the past several months. The big question is whether lower hedging costs will…»
Three Homebuilders Set to Break Ground in New North Scottsdale Development
Three homebuilders are the first to sign contracts with Storyrock Development Corp. to build 177 homes within its 462-acre new master-planned community in north Scottsdale near McDowell Mountain Regional Park and Tonto National Forest. Walnut, California-based Shea Homes, Houston-based David Weekley Homes and…»
Arizona Job Growth Ranks Among Best in the Country
From tech to bioscience, from manufacturing to healthcare, Arizona’s job market and job growth has been getting top marks month after month, year after year. And based off data from the U.S. Bureau of Labor Statistics (BLS), that trend doesn’t seem to be changing, slowing down, or reversing any time soon. In fact, Arizona’s overall…»
Rockwell Property Buys Phoenix Condo Project for $32.7M
Rockwell Property Co., a leading Chicago-based real estate investment and property management firm, recently completed the $32,700,000 acquisition of a portfolio of 192 units within the Citi on Camelback residential community located in Phoenix, Arizona, five miles north of downtown.  This purchase is Rockwell’s second multi-family…»