Commercial Real Estate & Business News December 4, 2018

High-net-worth investors (HNWI) have been a highly sought-after buyer group in recent years. Brokers moving properties have attempted to reach them. Non-traded REIT executives have marketed their shares to them. And crowdfunding groups have looked to woo them…»
Popular breakfast and brunch spot Snooze an A.M Eatery will open its next location in downtown Phoenix. The Denver-based eatery’s sixth Phoenix restaurant will open in a 4,000-square-foot space at the Stewart, a new mixed-use development at 800 N. Central Ave. in downtown Phoenix…»
Parallel Capital Partners, Inc., a San Diego-based real estate investment firm, recently announced the sale of Phoenix’s Kierland Corporate Center to Ascentris, a Denver-based real estate private equity firm, for $25 million. The Class A complex, situated at 7033 E Greenway Parkway in Scottsdale…»
Apartment behemoth Greystar has added three more Phoenix fixer-uppers to its portfolio. The Charleston, South Carolina-based owner and operator paid $149 million, or about $176,000 per unit, for an 845-apartment portfolio in the Phoenix suburbs, said market players…»
The financial services sector is flourishing in Phoenix. According to the new Financial Services Operations Center Report from JLL, the financial services sector has accounted for 30% of the total office market leasing in the last 24 months with a total of 88 lease transactions. “Phoenix has always been known as a good financial services market…»