Commercial Real Estate & Business News – December 14, 2015

Federal Reserve officials participating in a “war game” exercise this year came to a disturbing conclusion: Six years after the financial crisis ended, the central bank remained ill-equipped to quell the kind of dangerous asset bubbles that destabilized the savings-and-loan industry during the late 1980s, tech stocks in the 1990s and housing in the mid-2000s… Read more »
The second phase of University House is open for student use. This private luxury student housing development on Arizona State University’s campus was designed by BOKA Powell to complement an existing adjacent first phase. That phase consists of a 16-story, 148,680-square-foot building with 242 beds including two-, three- and four-bedroom options, says University House Communities… Read more »
We’ve dutifully reported on both a much-coveted downtown Phoenix grocery store and possible developments of parcel called Block 23 in between Collier Center and CityScape. Grocery stores have been sought and floated for a number of downtown developments over the years while a two-story Target store, hotels and office buildings have been proposed for Block 23… Read more »
U.S. consumers showed some muscle in November at the start of the holiday shopping season, suggesting enough momentum in the economy for the Federal Reserve to raise interest rates next week for the first time in nearly a decade. The outlook for consumer spending, which accounts for more than two-thirds of economic activity, got a lift from other data on Friday showing consumer sentiment nudged up in early December…Read more »
Lincoln Property Co. and Invesco Ltd. are buying the historic Luhrs City Center office buildings in downtown Phoenix for $44 million. The first Luhrs building opened on April Fool’s Day in 1924. A second building was built in 1929. They are located near Central Avenue and Jefferson Street. Lincoln and Invesco are buying the prominent downtown buildings from Hansji Corp… Read more »