Commercial Real Estate & Business News December 3, 2018

While the retail sector continues to face challenges, REITs that own top-tier malls are posting solid performance numbers and respectable earnings. Regional mall REITs can be a solid investment, with returns of 2.14 percent in 2018 compared with 0.53 percent for the S&P 500, Barron’s reported. Despite record numbers of retail bankruptcies…»
Old Town Gringos, a popular Mexican restaurant and bar in Old Town Scottsdale, has a new landlord following the sale of the nearly 60-year-old building for $2.23 million or $755 per square foot. The property at 4209 N. Craftsman Court in Scottsdale was sold by Store Capital Corp. (NYSE: STOR)…»
A Utah-based global investment manager just paid $271 million for a five-property apartment portfolio in Las Vegas and Phoenix, two Southwest markets that continue to see strong interest from multifamily investors. Bridge Investment Group Partners closed on the five-property, 1,658-unit portfolio last week…»
Years before Tempe Town Lake became a reality, the city of Tempe issued a request for proposals for an office development along the barren Salt River channel. That project became Hayden Ferry Lakeside, which roughly two decades ago kicked off development around the lake. The winning proposal from Benton- Robb Development Associates…»
Ushering in a new era for downtown Tempe, an exciting development for residents, businesses, and surrounding companies within close proximity to ASU, Novus Innovation Corridor broke ground for its next phase in September this year with big plans ahead. ASU and Catellus are working with Aspen Heights…»