Commercial Real Estate & Business News – February 4, 2014

American Realty Capital Properties, Inc. (ARCP) and Cole Real Estate Investments, Inc. announced that each company’s stockholders, at separate special meetings held earlier, have approved the proposals related to the merger of Cole with and into a wholly owned subsidiary of ARCP, pursuant to the definitive merger agreement dated as of October 22, 2013… Read more
Construction is under way on the second phase of a large apartment complex near Loop 101 in Scottsdale. TDI Real Estate Holdings LLC is the developer behind Jefferson on Legacy, which is under construction on Scottsdale Road north of the freeway. The complex will have 750 units upon completion, with 322 currently being built. They are scheduled for completion next year… Read more
For several years the number of homes in foreclosure in Arizona was among the nation’s highest. The state is now among the lowest in foreclosures as a percentage of homes for sale. Wall St. Cheat Sheet reported Arizona was in the top 12 best foreclosure markets… Read more
As we review Arizona and Greater Phoenix, care must be taken in how one interprets the figures. Yes, we are indeed creating jobs in some lower value added service sectors. This is true for the entire country. This is also normal for this stage (quality, not duration) of an expansion… Read more
The condo market seems to get stronger every day. The trend, which often raises concerns about a potential weakening of the apartment renter pool, was first anticipated back in the 2012 and confirmed last year…Read more