Commercial Real Estate & Business News – February 1, 2016

Commercial property valuations have appreciated at the slowest pace in two years, according to Ten-X. In its latest Ten-X Commercial Real Estate Nowcast, the online real estate marketplace and Thought Leader says valuations across the five major commercial real estate sectors increased 19 basis points in January from the previous month, a sluggish pace not seen since early 2014… Read more »
Similarities to Cleveland helped Phoenix land a new regional office for a bank security technology firm this week. Looking like home is a big reason Gabriel Partners picked downtown Phoenix for its western regional headquarters.The bank security investigation technology firm wanted a site that feels like its home base in the middle of the downtown Cleveland renaissance. According to CEO Christopher Brauser, downtown Phoenix filled the bill better than Denver, Jacksonville or South Florida… Read more »
Scottsdale has a new eatery, the All American Modern Sports Grill recently opened on Market Street at DC Ranch in North Scottsdale. The grill provides a modern twist on a traditional sports bar, featuring 50 large screen TVs, architecture by Swaback Partners and a Bourbon Bar with more than 60 varieties of bourbon, scotch and Irish whiskey. All American Modern Sports Grill’s owners have put sports first, incorporating the latest technology to excite local sports enthusiasts… Read more »
This week, the Open will return to the TPC Scottsdale for the 30th time. No one is questioning the locale anymore. Instead, the decision to move the tournament to the TPC has turned out to be one of the most inspired decisions in Arizona sports history. “To have that be almost a Super Bowl every year for the Phoenix area, I don’t think anybody anticipated that,”… Read more »
Commercial real estate investors fret over the increasing proportion of retail sales that take place online, decreasing demand for sticks-and-bricks retail space. Yet, one sector’s ceiling might be another sector’s floor. Don’t forget that online retailers need big warehouses somewhere. (That floor might be covered with racks of goods ready to go out to consumers.) Historically, the correlation between demand for logistics space is very strong with the change in sales… Read more »