Commercial Real Estate & Business News – August 7, 2014

Millennials and college students are very much driving the local multifamily marketplace as younger demographics are propelling new developments in Tempe, Scottsdale and central Phoenix. They are also driving landlords to put in more amenities and generally smaller units… Read more »
Following a lull in the first few months of 2014, the Greater Phoenix retail market strengthened in the second quarter. Tenants stepped up leasing activity, vacancy tightened and rents ticked higher. The positive retail real estate trends should continue in the coming months, buoyed by annual retail sales growth in the 7-8 percent range… Read more »
After fighting it for years, Glendale is poised to consider an agreement next week with the Tohono O’odham Nation over its plan to build a casino resort near Westgate City Center. Details of the agreement, which was discussed Tuesday at a closed-door Glendale City Council meeting, will be revealed today… Read more »
A state-of-the-art medical campus will soon be built at the northeast corner of Loop 101 and 90th Street, on the Salt River Pima-Maricopa Indian Community, less than two miles from the Scottsdale Healthcare Shea Medical Center. The 43-acre, mixed-use development will be named 90th Street Medical Campus… Read more »
It’s been a common question as the apartment recovery matured: When will cap rates stop falling in the so-called “sexy six” markets of New York, Boston, Washington, Los Angeles, Northern California, and Seattle? Well, if you guessed the first half of 2014, you were wrong… Read more »