Commercial Real Estate & Business News December 5, 2018

China-based investors are making a comeback as buyers after turning their backs on the U.S. commercial real estate market. Two unidentified Chinese institutional investors paid Cleveland-based real estate investment trust Site Centers Corp. $607 million in the past week for an 80 percent stake in 10 U.S. shopping centers. That deal followed Singapore-based CapitaLand Group’s $835 million acquisition last month of 16 U.S. multifamily properties…»
With so many people building homes and moving to the southeast corner of metro Phoenix, particularly Queen Creek, Safeway decided to go all in with its new store opening this week. Safeway will anchor a new shopping center development called Ironwood, in Queen Creek at 40950 N. Ironwood Drive. It was developed by Brian Frakes and Common Bond Development, the team behind Sam Fox’s The Yard projects.…»
Miami-based Lennar Corp. (NYSE: LEN) was the successful bidder of a 140-acre parcel of State Trust land in north Phoenix. Paying $22.6 million for the parcel at the southwest corner of Dove Valley Road and Paloma Parkway in Phoenix, the company won the auction at the appraised value minimum bid, according to Arizona State Land Commissioner Lisa Atkins. The funds will be invested in the state’s Permanent Land Endowment Fund at the Office…»
CBRE has negotiated a 52,608-square-foot lease at The Hub, a 298,000-square-foot, two-story creative office building in Chandler, Ariz., on behalf of Clarius Partners. Cascade Financial Services, a specialized finance company serving Manufactured Home Buyers in the affordable housing space, will relocate its headquarters to The Hub from its Gilbert, Ariz. location to accommodate future growth.…»
SCOTTSDALE, AZ-Healthcare should continue its strong growth over the foreseeable future driven by changes in the reimbursement methodology on both the government and private pay sector and by the new emphasis on population health. That is according to Stephanie Anderson, national sales director of Housing and HealthCare Capital. Anderson recently chatted with in preparation for the upcoming RealShare Healthcare event…»