Commercial Real Estate & Business News – February 8, 2017

Millburn & Co. in Salt Lake City has expanded its multi-family holdings in the Valley by paying $71.45 million ($102,071 per unit blended average) to purchase 700 apartments in two communities located in Mesa. The sellers in two transactions were companies formed by Acacia Capital Corp. in San Mateo, California…»

A big senior housing development in Phoenix’s Desert Ridge area is getting an expansion and upgrades after receiving $107.7 million financing led by Bank of America. Sagewood is owned by Westminster Funds and Life Care Services LLC. It sits on 270 acres near the Musical Instrument Museum…»

It isn’t a traditional theme park, but the arena that first housed a butterfly pavilion, aquarium and a dolphinarium is now planning for a bird observatory, dinosaur park and a hotel…»
The number of bankruptcy filings during 2016 was the lowest for any calendar year since 2006-another indicator that the economy has mostly recovered since the recession…»

Arizona is caught in the middle as President Donald Trump tries to limit foreign trade with Mexico while the state tries to boost cross border business. “What bothers me is that we are really not understanding where we came from and respecting where we are going,” said Jaime Chamberlain, president of J-C Distributing Inc., a Nogales, Arizona, cross-border produce distributing company…»