Commercial Real Estate & Business News December 11, 2018

Real estate investing is one of the best ways to diversify a portfolio and make a little side cash. It’s one of the most stable markets there is, and you can leverage others’ money to make it happen. According to CNN Business, 2019 may be a good time to invest in rental property, thanks to the reduction of home sales and increase in rentals…»
Homebuilder Lennar Corp. has purchased two office buildings in Kierland that it plans to tear down to make way for new luxury apartments. The company paid almost $18 million for the two buildings, located on about four acres, public estate records show. Kierland is located in Phoenix, but properties there carry a Phoenix address…»
Feeling unsafe in your town? You might consider moving to one of four Valley cities that are among the safest in the country. Those rankings are according to WalletHub, which released its list of 2018’s Safest Cities in America this past week. The rankings were compiled based on 39 safety indicators, ranging from assaults per capita to unemployment rate…»
The city of Phoenix and the Phoenix Suns have come to an agreement to make major renovations on the city-owned Talking Stick Resort Arena, one of the oldest arenas in the National Basketball Association. The upgrades will cost $230 million, with the city paying $150 million and the Suns paying $80 million. Any additional costs will be paid for by the Suns…»
This is a different Phoenix now, say apartment developers and investors, so concerns of a repeat of the price plunge of 10 years ago are overblown. Next year will test that theory. Apartment owners and investors aren’t flinching as the desert city’s rental market soars, and concerns about a repeat of what happened the last time things got hot here become unavoidable…»