Commercial Real Estate & Business News – August 17, 2016

After a very slow start to the year, apartment REITs may buy a few more properties as their stock prices recover. Case in point: Mid-America Apartment Communities just announced its deal to buy Post Properties for nearly $4 billion. The giant acquisition reverses the trend…»
California’s tax and regulatory policies have made the cost of doing business more expensive than other states and prompted about 10,000 companies over the last eight years to leave the state or shift or curtail operations to reduce costs…»
Goldman Sachs Group Inc. of New York City, N.Y. (NYSE:GS) has acquired a Scottsdale office project that has changed hands three times the past six years. In the most recent transaction, an entity formed by Goldman Sachs paid $40.05 million…»
A new $42 million office tower planned for Scottsdale’s rapidly-growing SkySong complex would be its tallest building yet, rising six stories and 90 feet next to the project’s iconic tent-like canopy near Scottsdale and McDowell roads. …»
Five of the eight buildings comprising a medical campus in Glendale near the Banner Thunderbird Medical Center sold for $10,850,000 ($229.61 PSF). The transaction included a 47,254 square feet controlling interest of prime medical office space within Thunderbird Palms Medical Campus. …»