Commercial Real Estate & Business News – February 28, 2017

The desert climate doesn’t seem to help set Phoenix apart from the rest of the nation, in that the cores of big US metros are cooling off, unlike cities on the outer edges of the urban rings, where the rental heat maps are starting to glow red hot.…»
At least a dozen Scottsdale development projects have taken advantage of a lesser-known provision in the city’s zoning code that allows taller buildings and greater density in exchange for public art and other improvements since the ordinance was adopted five years ago, records show. …»

A Tempe shopping center has sold for more than $3 million. Papago Hills, an 11,646-square-foot center on the northeast corner of Priest Drive and Washington Street, was purchased by MMH Priest and Washington LLC, for $3.03 million, or about $260 per square foot. …»

Sunshine and affordable homes have long spurred metro Phoenix’s growth. On the downside, Phoenix has also long been known as an area with inexpensive labor and warehouses for call centers and distribution hubs. But at least part of the Valley’s original growth formula is now helping…»
The most frequent and detailed negotiations in triple net leases often center around a tenant’s ability to assign or sublet a lease without a landlord’s consent. If both parties are able to agree to reasonable compromises in a negotiation of the assignment and subletting provisions of a lease…»