Commercial Real Estate & Business News – January 26, 2017

Opendoor Labs Inc. – a San Francisco-based tech-based real estate company and online home seller – has landed in Scottsdale. The Silicon Valley unicorn was recently valued at $1 billion, according to Bloomberg and other reports. A unicorn is startup that reaches the $1 billion valuation mark.…»
Arizona-based Mountainside Fitness is opening a new fitness center at State Farm’s big new Marina Height development in Tempe. The 10,000-worker development is on Tempe Town Lake across from Arizona State University and Sun Devil Stadium …»

Large coastal cities have been a great place to invest in since the global financial crisis, and there’s good reason why. Companies focus on these cities in search of the best talent. People want to live in these urban cores, drawn by the diversification, culture and opportunity. And because investors understand these factors, real estate assets in these cities have …»

If the difficulty in finding a seat around Manchester Grand Hyatt Hotel in San Diego is any indication of success, this year’s National Multifamily Housing Conference Annual Meeting should be a hit. At yesterday’s kickoff Apartment Strategies Conference, more than 20 panelists in multiple sessions covered the industry’s hot-button issues for 2017…»
More mall landlords are choosing to walk away from struggling properties, leaving creditors in the lurch and posing a threat to the values of nearby real estate. As competition from online shopping batters retailers, some of the largest U.S. landlords are calculating it is more advantageous to hand over ownership to lenders than to attempt to restructure debts on properties with darkening outlooks. …»