Commercial Real Estate & Business News- February 4, 2020

Park Central Revitalization Includes State-of-the-art Hotel When complete, the large-scale Park Central revitalization effort will transform a once-defunct shopping area into the city’s premier destination to work and play. Now, the addition of a new, state-of-the-art hotel will help ensure that it’s also a top place to stay for city travelers. The brand-new, dual-branded Home2 Suites/Tru by…»
Sales of Flex Industrial Assets Trail Behind Warehouse Sales. What’s Behind the Trend?
A recent report from research firm Real Capital Analytics (RCA) comparing investment trends over the past decade, shows an 83 percent jump in industrial sales last year compared to the 10-year average, with warehouse sales up 95 percent and sales of flexible industrial facilities up by about half that amount, by…»
Banner Breaks Ground in Glendale on its Largest Health Center
Leaders from Banner Health and its developer partner NexCore Group, along with Glendale Mayor Jerry Weiers and other government, community and business leaders, gathered in northwest Glendale Wednesday, Jan. 29, to break ground on Banner’s newest health center project. The project,…»
Hotel Begins Construction in Metrocenter ‘Opportunity Zone’
Construction is underway on a new Hampton Inn & Suites by Hilton near Metrocenter Mall in Phoenix, a project that hotel and city officials hope will be a catalyst in the area thirsty for redevelopment. The $15 million, four-story hotel will have 101 rooms. It will…»
Harbor Group International Acquires Luxury Apartment Community in Growing Phoenix Submarket for $65.5 Million
SCOTTSDALE, AZ – Harbor Group International, a privately-owned international real estate investment and management firm, announced its purchase of Luxe Scottsdale, a 218-unit, mid-rise style apartment community in Scottsdale, Ariz., for $65.5 million. HGI plans to contribute approximately…»