Commercial Real Estate & Business News January 9, 2020

Construction to Begin Soon on Largest SkySong Building Construction on the largest office building in the SkySong development in south Scottsdale will begin in May and leasing activity is already underway. SkySong 6, the sixth office building and seventh structure in the complex on the southeast corner of Scottsdale and McDowell roads, will be 90 feet tall, have 340,000 leasable square…»
Gilbert’s Booming Mixed-use Retail Developments Complement Future Residential Projects
Gilbert’s booming retail developments signal a shift in the role retail plays in the addition of residential projects and economic impact from tourism. Gilbert is cultivating community through mixed-use developments where residents can live, work and play and visitors are invited to explore all the friendly town has to offer. Over a…»
Investment Sales Prices Find Some Late Cycle Momentum
The $14.5-million sale of the Sand Cove Apartments in St. Pete Beach, Fla. last month isn’t a deal that would normally stand out amid the crowded field of mega-sales and portfolio acquisitions that occurred in 2019. What is eye-catching is that the sale price on the 72-unit property surpassed $200,000 per unit-the highest price paid…»
Where Capital Market Lenders Will Be in 2020
Hilary Provinse, executive vice president and head of mortgage banking for Berkadia, expects the apartment sector to continue to attract debt and equity in 2020. But multifamily won’t be alone. “The other asset classes aren’t that far behind,” Provinse says. “We still have unbelievably favorable low interest rates, which won’t be changing…»
Global Real Estate Firm to Break Ground on Luxury Apartment Complex in Downtown Phoenix
International real estate firm Hines plans to break ground later this month on Adeline, its first multifamily property in Phoenix.Plans for the 379-unit luxury apartment complex include an urban courtyard, junior Olympic-size swimming pool and clubhouse. The 1.5-acre lot at 201 E. Jefferson St. is near Talking Stick Resort Arena and the…»