Commercial Real Estate & Business News – February 22, 2017

A new report sees Arizona shifting into higher gear this year, with the pace of economic growth nearly doubling and the state’s population passing 7 million. “Real GDP growth has ramped up as long-standing efforts to diversify the state’s economy are beginning to pay off in a big way, just as the inflows of retirees and tourists kick back into high gear,”…»
The mood on the show floor at the annual MBA Commercial Real Estate Finance/Multifamily Housing Convention & Expo,, which is taking place in San Diego this week, is an odd mixture of optimism and uncertainty. With healthy property fundamentals and few concerns about overbuilding…»

Rockefeller Group and Investment Property Associates, LLC (IPA) announced today the development of two new “Liv”-branded Class A apartment communities in the metro-Phoenix area. The projects, located in the Deer Valley submarket of Phoenix and in Goodyear, will total 711 units…»

When a retailer announces that it will sell off about 1,200 stores in order to take its business to the next level, these days the assumption is that the company is struggling to stay afloat and needs to quickly shed excess weight and curb costs.…»
Located within one of the largest entertainment and retail districts in Arizona, Westgate 95, a 7,539 square foot retail center, sold for $1,500,000 ($199/SF). Built in 2008, Westgate 95 is located steps away from Westgate Entertainment District, which offers a unique outdoor setting…»