Commercial Real Estate & Business News January 11, 2019

Phoenix Fundamentals Are a Big Hit With Investors
Phoenix fundamentals are a big hit with investors, who are finding healthy returns and longevity in the market. Chicago-based LaSalle Investment Management has made its first multifamily purchase in the market in years, citing strong job growth and population growth as compelling reasons to invest in the market. LaSalle purchased…»
Shoppers Pick Trader Joe’s as their Favorite Grocer
Shoppers in a nationwide survey rated Trader Joe’s as the top grocery store for the second year in a row because of the retailer’s ability to understand customer needs and deliver on price and quality. The 2019 Retailer Preference Index – Grocery Edition compiled by customer data science surveyed company dunnhumby analyzed survey input from…»
Phoenix Developer Invests Millions to Develop Hybrid Rental Units in Several States
Phoenix-based NexMetro Communities is poised to invest $500 million this year to develop its unique hybrid rental communities in a growing number of cities. The residences are a hybrid between an apartment unit and a single-family home. They range from 635 square feet for a one-bedroom unit to 1,250 square feet for a three-bedroom, two-bath unit, but…»
Attorney General Sues Universities Over Massive ASU Real Estate Deals
The Arizona attorney general has launched another battle against the state’s public universities, this time over large Arizona State University real estate projects that he says are illegal. Attorney General Mark Brnovich sued the Arizona Board of Regents, which oversees the state’s universities, in Arizona Tax Court Thursday. He claims real estate deals approved by…»
Phoenix Council OKs Grand Avenue Adaptive Reuse Project
Phoenix City Council on Wednesday gave the stamp of approval for an adaptive reuse project that will transform a Cold War-era armory into offices, warehouse space and living areas for artists and skilled workers. Jay Visconti of California-based Northwood Properties plans to adaptively reuse the main armory building, located on 17th Avenue and…»