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Commercial Real Estate & Business News – August 29, 2017

To put it mildly, the current expansion is no spring chicken. At 96 months, it is the third longest recovery/expansion on record. The longest is 120 months (March 1991-March 2001). The second longest is 106 months (February 1961-December 1969). And even that one was marked by what was called a “growth recession” from 1966-1967…»

Amazon.com Inc. (Nasdaq: AMZN) has leased an entire industrial building in Chandler for a last-mile distribution center to get deliveries to customers in and around the East Valley. Amazon is leasing the 91,200-square-foot warehouse building at 550 East Elliot Road in Chandler…»

Apartments at RISE on Apache include a mix of studio, one-bedroom, two-bedroom, and four-bedroom floor plans, ranging in size from 322 to 1,359 SF and offering a private bathroom for every bedroom. Each apartment is fully furnished with designer furniture and features wood-grain flooring, modern kitchens with stainless steel appliances and granite countertops, flat screen televisions, and in-unit laundry…»

Real estate private equity firm Ascentris and its development partner Optima, Inc. have fully stabilized the partnership’s latest multifamily development, the 150-unit 7160 Optima Kierland Apartments at 7160 E. Kierland Blvd. in Scottsdale, AZ, reaching the 95%-leased milestone in just four short months after the project delivered in May…»

Though it seemed as though local restaurateurs were taking a breather from opening new spots in the Valley because of the restaurant boom and bubble, some of the Phoenix metro’s top people in dining have plans to open new spaces…»