Commercial Real Estate & Business News January 29, 2020

Another Strong Year for CRE in 2020 RCLCO has released its Year-End 2019 Sentiment Survey and the results suggest that commercial real estate’s yearslong positive run will continue in 2020. The prediction and other assessments come from a geographically diverse group of experienced real estate professionals with expertise spanning the industry. Providing…»
HonorHealth Breaks Ground on $39M Behavioral Health Hospital
Today, HonorHealth and Universal Health Services, Inc. officially broke ground to begin construction of a new 120-bed behavioral health facility to be named Via Linda Behavioral Hospital. The new hospital will address the growing need for accessible, high-quality advanced behavioral health services in Phoenix, Scottsdale…»
Luhrs Building in Downtown Phoenix Sold for $14M, to Open New Hotel
The Luhrs Building in downtown Phoenix is changing owners, with plans to transform the historic space into an upscale hotel. Lincoln Property Company recently sold the building at Central Avenue and Jefferson Street to PEG Companies and A.G. Hill Partners for $14 million, according to a Monday press release. The new…»
It’s True! Popular Wine Bar Postino is Coming to South Tempe. Here’s What You Need to Know
Since the sudden closure of Tempe Public Market Cafe on Friday, Jan. 17, rumors have swirled around the future plans for the high-profile restaurant space in south Tempe. Now, the building’s new tenant is ready to confirm what’s coming next: Postino WineCafe. The popular chain of wine bars and restaurants from Phoenix-based…»
Phoenix Housing Market Gains Billions in Total Value, Ranks Among Top U.S. Cities
The metro Phoenix housing market’s total value reached $488 billion during 2019, a big gain from the previous year, according to a study by Zillow Group Inc. (Nasdaq: Z)Compared with 2018, the total value of the Valley housing market gained 6.6%, or $30 billion last year. Only one market in the country, Washington, D.C.,…»