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Commercial Real Estate & Business News – August 19, 2014

Downtown Phoenix to Add 3 New High Rises

Phoenix can expect more high-rise buildings as developers have at least three new projects in the works for downtown. Downtown officials say there?s another planned high-rise on the northwestern corner of Central Avenue and Van Buren Street. However, Phoenix Planning and Development officials said they have not yet received paperwork on the project, Phoenix Central Station… Read more »

No. Calif. Investors Make Second Valley Apartment Deal…$43 Million For 264 Units

A company formed by Aukum Management LLC paid $43 million ($162,879 per unit) to acquire the 264-unit Sonoran Vista apartments located at 9340 E. Redfield Road in Scottsdale. The seller was SP Sonoran LLC, a company formed by Security Properties Inc. in Seattle, Washington… Read more »

Tempe Ranked Top 5 Best College Town by Livability.com

Tempe is one of the nation’s top best college towns, according to Liveability.com. The Internet website posted its fifth annual listing Monday and said the home of Arizona State University “offers a big-city experience with all the amenities of a major metropolitan area mixed with a college-town atmosphere”… Read more »

Eastmark Community Growing Quietly in SE Mesa

A whole new community is springing up in the southeastern part of Mesa and drawing a lot of attention. The Eastmark development, managed by DMB Associates Inc., is increasingly active and a lot more is going on there than Valley residents may realize… Read more »

The Luhrs Endures

Nestled among the steel and glass high rises in downtown Phoenix, the Luhrs Building stands as a symbol of the iconic brick-and-mortar structures that once graced the inner city. As the City of Phoenix embraces the concept of adaptive reuse, the Luhrs Building, constructed in 1924 at a cost of $553,000, is part of this trend to repurpose existing buildings with retail or office additions… Read more »