Commercial Real Estate & Business News – February 19, 2014

Forbes has released its annual ranking of the nation’s 20 fastest-growing cities in terms of population and economic growth — and Phoenix landed at the No. 3 spot. Phoenix’s population growth rate last year was 1.67 percent, according to the magazine, but the ranking isn’t based solely on population increase… Read more
The professionally laid back town of Carefree could soon be home to Arizona’s newest “Main Street” condo and commercial project, aptly named Easy Street both for the street it fronts and its cool, casual lifestyle. Butte Development is revisiting plans for the $90 million mixed-use project near Cave Creek Road and Tom Darlington Road. The project includes 80 ultra-luxurious, amenity-stocked condos and approximately 50,000-square-feet of retail and commercial space… Read more
Overton Moore Properties (OMP) acquired a new asset under its newly formed venture with Pacific Coast Capital Partners and an institutional partner. The venture is committed to acquire $80 to $100 million of industrial real estate in the Phoenix market within the next two to three years… Read more
A site for a $50+ million student housing project near Arizona State University in Tempe has been sold to a company formed by Blue Vista Capital Management in Chicago. Blue Atlantic Tempe LLC paid $6.5 million to acquire the 3.56-acre site, which is just east of ASU at the northwest corner of Lemon Street and Terrace Road…Read more
Commercial real estate investments are expected to produce solid returns this year, according to an annual forecast report released by the Real Estate Research Corporation, Deloitte, and the National Association of REALTORS. Researchers say they have a “cautiously optimistic” outlook for commercial real estate after recent stabilization, according to the report… Read more