Commercial Real Estate & Business News – January 8, 2014

Scottsdale Apartments Sell For $53.65 Million…Abacus Returns To Valley Market

After being on the inactive list as a buyer of multi-family projects in the Valley for almost six years, the privately-held Abacus Capital Group LLC in New York City, N.Y. (Benjamin Friedman, pres.) has returned to the game with a major splash… Read more

Montelucia Resort & Spa Sold to Omni Hotels & Resorts

Paradise Valley’s Montelucia Resort & Spa has switched hands for the second time in less than three years, this time being sold to a Dallas-based hotel operator for an undisclosed price, according to a statement today… Read more

Phoenix Spec Office: It Makes Sense Again

With Phoenix’s overall office vacancy rate in the 23% range, speculative and build-to-suit office development seems like it should be a far-off event. Yet new class-A office projects are, in fact, starting to pop up in key Valley locations… Read more

Apartment Rent Goes Through Roof

According to The Wall Street Journal, apartment landlords continue to push rents higher in many cities. In fact, landlords have wielded the upper hand since the housing crisis began. As the WSJ explains:… Read more

MOB Sector Prepares for Changing Industry

As the number of Americans over age 65 climbs to more than 18 million in the next decade, industry experts predict shifting demands for medical office facilities. The roll out of the Affordable Care Act in 2014 and beyond will create new dynamics in the medical office sector. With an estimated 25 million previously uninsured Americans gaining access to coverage by 2016… Read more