Commercial Real Estate & Business News February 13, 2019

Two Scottsdale Malls See Huge Sales Increases, Parent Company’s Filing Shows
Two of Scottsdale’s most prominent shopping destinations, Scottsdale Fashion Square and Kierland Commons saw retail sales increase dramatically from 2017 to 2018, according to documents filed Thursday with the U.S. Securities and Exchange commission. The Macerich Co. (NYSE: MAC), a Santa Monica, California-based real estate investment trust,…»
Liv Communities Ppens 3rd Senior Living Community in the Valley
Liv Communities is expanding its footprint in the Valley with the opening of its third senior living community, LivGenerations Pinnacle Peak. A grand opening ceremony is scheduled for Feb. 28 at the $40.5 million, 110-unit property at 23733 N. Scottsdale Rd., in Scottsdale. Liv Communities has senior living communities in…»
$77M ASU Research Center to Break Ground in Downtown Phoenix
Arizona State University will anchor a $77 million research center to be built on the Phoenix Biomedical Campus in downtown Phoenix. Baltimore-based Wexford Science & Technology LLC, a real estate company that builds research and medical centers nationwide, is building the project, which is being financed by…»
New Hotels Generating More Business In Tempe
Tempe’s Tourism Office said the number of hotel room nights booked in 2018 was nearly 250,000 higher than in 2016. Sales increased 12 percent from 2017 to 2018. The office credited the rise to a growing business community, Arizona State University, new flights and new marketing efforts. In 2017, the number of rooms grew by…»
Northstar Commercial Partners Sells 5-Star Distribution Facility in Suburban Phoenix
Denver-based Northstar Commercial Partners sold a 418,651-square-foot distribution building at West Valley Logistics Center in Surprise, Arizona, to Dalfen America Corp., a Canadian REIT, for $24.1 million, or about $58 per square foot. The Class A, single-story structure at 12000 N. 132nd Ave. comprises 84 loading docks, eight drive-in bays,…»