Commercial Real Estate & Business News – August 14, 2014

Good news for multifamily housing—demand for space is likely to be even stronger than experts estimated, helping the sector keep ahead of new construction for the immediate future, according to the Mid-Year Outlook 2104 from Freddie Mac Multifamily Research… Read more »
A company formed by Cohen Asset Management Inc. in Los Angeles, Calif. (Brad Cohen, principal) paid just over $14.591 million ($60.08 per foot) to purchase a 242,863-square-foot distribution building within the Ryan West Business Park in Tolleson. The multi-tenant property is located at 8313 W. Latham Street. The seller was EG Properties LLC… Read more »
Wentworth Property Company/Clarion Partners and the Phoenix office of JLL have secured a benchmark 63,000-square-foot tenant lease commitment this week at Airport I-10 Business Park—one of the largest Sky Harbor Airport-area speculative industrial developments in Phoenix history. The lease, made by Illinois-based Anixter International, Inc., fills almost half… Read more »
Arizona State University has tapped Gould Evans and HNTB Corp. to lead the architectural and design renovations of its Sun Devil Stadium. “We have reached an important milestone in the reinvention of Sun Devil Stadium,” said Ray Anderson, Vice President for University Athletics… Read more »
Year on year property price growth in the United States fell from 9% to 8.4% in July, raising concerns about the market’s ability to maintain long term growth. The data from the latest Clear Capital index also shows that distressed sales fell to 18%, a stark reduction since its peak of 40.8% in March of 2011… Read more »