Commercial Real Estate & Business News December 14, 2018

Locals Name Top Neighborhoods in Phoenix Area
Did your neighborhood make the list? Real estate site Trulia unveiled the most beloved neighborhoods across the U.S. and in Phoenix. Nearly 10,000 neighborhoods spanning coast to coast were ranked based on more than 20 million local reviews on Trulia Neighborhoods’ “What Locals Say” feature — a first-of-its-kind experience that provides buyers and renters with a genuine feel…»
Exploring Today’s Real Estate Market – And Its Future
You may have noticed the real estate market tightening and slowing in recent months. Home-buyers are becoming increasingly more cautious due to the feeling that they may be purchasing at the top of the market and will have to obtain a higher market interest rate compared to the past. This also translates to buyers being more difficult to secure in the marketplace for home sellers. This, in addition…»
Long Vacant Sam’s Club Reborn as Industrial Distribution
A long vacant Sam’s Club in Phoenix has been reborn as an industrial distribution facility-illustrating the overarching market trends for both asset classes in a single project. Developers DPC Companies and Confluent Development along with contractor Graycor Construction Co. redeveloped the 115,000-square-foot box and an adjacent Go Kart Track into HUB 317. The new class-A industrial property…»
Desert Vista 100 Buys 40 Acres of State Trust Land in Mesa for $6.41M
Desert Vista 100, LLC, successfully bid $6.41 million for a 40-acre parcel of State Trust Land west of the southwest corner of McKellips Road and Hawes Road, north of Loop 202, in Mesa, while Pilot Travel Centers successfully bid $900,000 for 6 acres of State Trust Land in Gila Bend, Arizona State Land Commissioner Lisa A. Atkins said…»
Sizing Up the Opportunity Zone Council
Multifamily and commercial real estate tax experts say they are generally pleased but express concerns about how the program will be regulated and implemented.  Commercial real estate tax experts said on Wednesday that they were encouraged by President Trump’s executive order establishing a council to oversee implementation of the opportunity zones created…»