Commercial Real Estate & Business News February 25, 2019

This Valley City is Poised to Become the Next Economic Hot Spot
With a regional airport, ample freeway frontage, and large swaths of available land, Goodyear has quietly developed into the Phoenix region’s next economic hot spot. The southwest Valley city has a high median income and an educated workforce eager to stay closer to home for work than brace the eastward commute down Interstate…»
Making Their Mark: The Growing Influence of High-Net-Worth Investors in Large-Scale Commercial Real Estate
Not so long ago, the vision of high-net-worth (HNW) investors in commercial properties entailed doctors and lawyers passing the hat at the country club in an effort to buy an eight-unit apartment complex in town or the retail strip across the street from church. In recent years, however, this image has been washed away in a veritable flood of…»
Phoenix Apartment Rents Sets New Growth Record
Phoenix apartment rents are climbing faster than anywhere else in the U.S. Though the Arizona market tied with Las Vegas to claim the top spots for rent growth in 2018, Phoenix has taken the lead in January. According to RealPage, Inc., Phoenix is seeing 8.1% year-over-year rent growth, making it the nation’s top-performing market. Though Phoenix…»
Scottsdale Developer Sells Apartment Complex, Ready to Build Two More in the Valley
The number of jobs in Arizona are expected to increase steadily during the next two years, with education, health services and finance/professional services seeing the biggest gains. According to projections from the Arizona Office of Economic Opportunity, the number of jobs is expected to grow from 3,015,242 at the end of the…»
Want a Tax Break in Downtown Phoenix? You’ll Have to Pay For it in Affordable Housing
Most large cities in the U.S. require developers who erect luxury apartment complexes to put money into a pot for affordable housing. The city then uses that fund to build lower-cost housing and maintain affordability in high-growth areas. This doesn’t happen in Phoenix, despite the rising cost of housing in the downtown core. In fact, it doesn’t…»