Commercial Real Estate & Business News – December 7, 2016

Experts warned that hundreds of thousands of new apartments would open in 2016 and drive up the vacancy in the sector. But for most of this year, average vacancy rates stayed low. “The market has proved to be incredibly resilient,”…»
A new soccer stadium near the Loop 101 and Loop 202 interchange could help transform the area into the Phoenix-area’s newest top-tier sports and entertainment hub, bringing much-welcomed revenue to nearby businesses and cities. …»

Hardison/Downey Construction Inc. broke ground today on a $15 million apartment complex, giving young adults with autism a chance to live on their own. When the construction project was originally announced last year, Ryan Cos.was going to build First Place-Phoenix for First Place AZ.…»

The single tenant medical sector remained popular with investors through the first three quarters of 2016, and several demographic factors will likely sustain that interest over the next few years, regardless of changes in the nation’s political landscape. …»
HonorHealth last week closed the purchase of a 60-acre site along Interstate 17 in far north Phoenix where it plans to build a 300-bed hospital near an existing, stand-alone emergency department. The Scottsdale-based health system spent $30.6 million on the site …»