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Commercial Real Estate & Business News – January 17, 2018

“Stable.” That’s the one word that encapsulates the anticipated state of the multifamily sector this year, according to Greg Willett, chief economist at RealPage, a Richardson, Texas-based firm which provides property management software solutions. That was also the sentiment expressed by other industry experts as well, when asked for their forecasts for the upcoming year. “The reality is multifamily going into 2018 is going to be a lot of the same”…»

After a robust 2017, commercial construction companies are anticipating an even stronger 2018, with the majority reporting they plan to expand their staffs, according to Dodge Data & Analytics. As professionals seek to map out 2018 and beyond, there are a number of trends shaping the construction industry…»

If you didn’t already know it, downtown Phoenix is hot – not only for its deluge of 4,477 housing units planned, under construction or built and new restaurants opening almost daily, but the number of tech companies relocating to the central city core. The downtown area has seen a 318 percent increase in tech companies since 2012, has been ranked third for high-tech job growth and fourth for the best metro area for young professionals, said Shannon Selby, the economic development program manager for the city of Phoenix…»

Arizona is getting its first resort with an indoor water park. Great Wolf Resorts is a growing chain of popular family hotels that debuted in the Midwest and has expanded to warm-weather spots including southern California. It plans to open a location on the Salt River Reservation adjacent to Scottsdale in the second half of 2019. The 350-room all-suite hotel will be built next door to Salt River Fields, the Arizona Diamondbacks’ and Colorado Rockies’ spring-training home…»

Gilbert-based Christopher Todd Communities opened the leasing office at its first single-family home luxury rental development in Surprise. The real estate company was created by Todd Wood, who previously owned Alpine Valley Bread Co. Wood was one of the pioneers in the organic food trend. Mesa-based Alpine Valley was bought by Flowers Foods in 2015 for $120 million…»