Commercial Real Estate & Business News December 6, 2018

As high-net-worth (HNW) investors zone in on commercial real estate opportunities for 2019, Opportunity Zones, multifamily, marijuana, retail and industrial are emerging as some of the key areas to watch. Real estate investments made next year by HNW investors should be weighed against rising interest rates and the prolonged economic expansion…»

Arrowhead Builders, an Oklahoma-based general contractor that recently opened a Chandler office, has big plans for development on the Salt River Pima-Maricopa Indian Community east of Scottsdale. Earlier this year, Arrowhead began construction on a 43-acre wellness campus, known as Sierra Bloom, which will feature behavioral health, assisted living and memory care and multitenant medical office and retail.…»

A $92.5 million industrial complex purchase is the latest addition to Prologis Inc.’s Arizona portfolio, part of a focused effort to increase the real estate investment trust’s Valley footprint. “We are opening a new office here next month, and we are investing in Phoenix in a way we haven’t done previously,” said Megan Creecy-Herman, vice president and market officer for Prologis in Phoenix. …»

While experts express conflicting predictions regarding the national commercial real estate landscape moving into 2019, what can we expect on our own turf? While the opportunity for growth continues to be favorable for the Valley in many aspects, the local 2019 commercial real estate outlook may be met without a few challenges. Who better to explain the delicate balance of Arizona’s impending commercial real estate trends…»

Lennar Multifamily Communities (LMC) of Charlotte, NC has acquired two office buildings situated on a total of 4.17 acres within the Kierland development in Scottsdale. The company plans to demolish the two Class “A” office buildings and construct a luxury apartment community on the site. “It is unusual for the sale of two high-quality office buildings to result in demolition…»