Commercial Real Estate & Business News – December 14, 2020

California Investor Buys Apartments Across From a Phoenix College
A Pasadena, California-based real estate investment company paid $13 million for University Commons, a 126-unit apartment complex across from Grand Canyon University in Phoenix .Vancouver, British Columbia-based Terra Vista Investments…»
Every Type of Investor Is Looking into U.S. Industrial Properties
Driven by the pandemic, acceleration in online shopping and an increase in onshoring of manufacturing, demand for industrial space continues to outpace supply in many markets. Over the last couple of months, a significant number of large industrial portfolios and complexes…»
Net Lease Investment Outperforms Total CRE Sales in Q3
Investment in US net-lease properties increased by 24.4% quarter-over-quarter in Q3 2020 to $11.7 billion, according to the latest research from CBRE. Still, Q3 total net lease volume declined by 50.6% year-over-year in Q3 2020. CBRE says the decline for total US commercial…»
Millburn Acquires PHX’s Parc South Mountain for $60M
Salt Lake City, UT-based Millburn & Company acquired Parc South Mountain, a 258-unit multifamily property in Phoenix from Phoenix-based Evergreen Development Company for $60 million. The asset is located in the shadows of South Mountain at 3400 E. Southern Ave…»
NexMetro Communities Continues Massive Arizona Expansion
NexMetro Communities, a leading Phoenix-based developer of luxury leased-home neighborhoods throughout the U.S., continues its nationwide expansion by adding six new communities in greater Phoenix to its portfolio. Avilla Lago in Peoria will open with 120 homes…»