Commercial Real Estate & Business News – December 29, 2014

The largest vacant parcel in downtown Phoenix is ripe for residential development. The property, south of Fillmore Street, between 4th and 6th Avenues, is poised for development, with Phoenix set to release a RFP by the end of February to develop the land. The city and the Phoenix Industrial Development Authority are in the process of buying 2.8 acres from Maricopa County for about $4.9 million. Phoenix owns about 4.6 acres of the vacant…Read more »
Improving commercial property fundamentals, a steady stream of offshore capital and an accommodating Federal Reserve interest rate policy will sustain robust property investment in 2015, real estate analysts predict, as buyers keep seeking yield and safe havens in the U.S. But rising interest rates, the cooling of energy markets amid oil’s price plummet, and other variables threaten to thwart those expectations… Read more »
Plans have been submitted to the City of Scottsdale to build anew on the site of a blighted, half-demolished building on the waterfront. The two-story, fenced half-demolished structure between the W Hotel and Scottsdale Road that once housed a mishmash of shops and offices is coming down at last – if plans from C.F. Waterfront Investments LLC are approved by the city… Read more »
The historic Barrister Place building in downtown Phoenix is a structure with significance, from its 1915 opening as the tallest building in the state to its cameo as a backdrop in the opening of the 1960 horror flick “Psycho.” Now, city leaders say the building will play a key role in the transformation of the city’s once-sleepy urban core, bringing new residents and retail space downtown… Read more »
It may be easier for Ben Bernanke to get a loan to buy an apartment building than to refinance his home mortgage. While addressing a conference of the National Investment Center for Seniors Housing and Care in Chicago this fall, the former chairman of the Federal Reserve mentioned that he and his wife had recently been turned down by their lender after seeking to refinance their mortgage… Read more »