Commercial Real Estate & Business News – December 16, 2015

The monthly meeting of the Federal Open Market Committee that gets underway on Tuesday is expected to begin the long-awaited, long-delayed process of normalizing interest rates. With the prospect of near-term action by the Federal Reserve, “real estate investors are worried,” as a new report from TIAA-CREF Asset Management puts it. A specific concern is the effect of rising interest rates on cap rates and valuations… Read more »
It’s been impossible not to notice the rising glass Goliaths that continue to rise skyward just to the north of Sun Devil Stadium in Tempe. Over the past couple of years the State Farm office buildings at Marina Heights, the largest in Arizona history, have sprung from the ground and like a cactus in bloom are beginning to blossom…Read more »
The Woodlands, Texas-based Avanti Senior Living is expanding into Arizona. Plans call for developing three senior living projects in Peoria, Goodyear and Mesa — each at a $15 million price tag. Financing is coming through an equity partner and construction lender. Each 77,000-square-foot project will serve up to 150 seniors, with one and two-bedroom suites. The assisted living and memory care projects will feature… Read more »
Just west of the high profile intersection of Scottsdale Road and Shea Boulevard in Scottsdale, Shea 70 Plaza, trades hands for $8,500,000 or $253/SF. Shea 70 Plaza is a 33,615 square foot retail center, built in 1988 and located on the southwest corner of 70th Street and Shea Boulevard. ORION Investment Real Estate represented the Seller, an affiliate of Hedgewood Properties, based in Toronto Ontario, Canada and the Buyer was an investment group out of Monterey, California… Read more »
Capital flows to real estate will remain robust as yields remain relatively low and financial market volatility increases further in 2016. These factors will only increase the demand for real estate’s relatively high yields and stability. Investors will increasingly chase yield into secondary and tertiary markets, as well as the suburbs, rationalizing their decisions to enter markets that go in and out favor… Read more »