Commercial Real Estate & Business News January 7, 2020

Eight Predictions for the Industrial Sector in 2020 New project deliveries, continued cannabis legalization, a decline in manufacturing, faster e-commerce deliveries and the upcoming presidential election will all have an impact on the U.S. industrial sector in 2020, experts say. Here are eight predictions for the industrial sector in the new year: 1. The rush to cannabis production will…»
Biltmore Center Sells for $212 Million
JLL Capital Markets announced the sale of the Biltmore Center, comprised of three Class A office buildings totaling approximately 643,145 square feet on the northwest corner of 24th Street and Camelback Road in Phoenix, Arizona. A joint venture formed by Phoenix-based ViaWest Group sold the asset to a newly-formed venture, with…»
NexMetro Sells Two More of its Valley Hybrid Rental Home Communities
Phoenix-based NexMetro Communities has sold two more of its hybrid rental communities for $98.1 million. The developer of the communities that feature leased single-family homes sold the 152-unit Avilla Town Square, 150 E. Warner Road, Gilbert, for $42.6 million, to Utah-based Keller Investment Properties. It also sold…»
Wood Partners Announces Grand Opening of 229-Unit Alta North Central in Phoenix, Arizona
Wood Partners, a national leader in multi-family real estate development and acquisition, announced the grand opening of its newest luxury residential community – Alta North Central – in Phoenix, Arizona.  Alta North Central offers a sophisticated lifestyle with well-appointed amenities that are unmatched in the market. The community exudes…»
SFR Investors Plan to Step Up Acquisitions in 2020
The next 12 months are likely to be busy for investors in single-family rentals (SFR). “The SFR market is active, both for institutional, as well as retail investors,” says Gary Beasley, CEO of Roofstock, an online platform for buying and selling SFR properties. After years of sitting on the sidelines, SFR investors are once again in buying mode, in…»