Commercial Real Estate & Business News – July 14, 2015

Pasternack Expands Industrial Park Along I-10 Corridor…?Ten? Now 214 Acres

Valley developer and architect Irwin Pasternack has acquired land along the Interstate 10 corridor in west Phoenix that will be developed as part of a 214-acre mixed-use industrial park called ?TEN?. Pasternack, whose company already owns 142 acres that surrounds the newly-acquired land, paid $7.7 million ($106,944 per acre) to buy 72 acres near the southeast corner of 83rd Avenue and I-10… Read more »

Oil’s Impact on Commercial Real Estate

Perhaps more so than any other industry, oil and its pricing volatility impacts all elements of the U.S. economy, both positively and negatively. Looking at it from a macroeconomic level, higher oil prices are good for some industries, and yet bad for others?and the same goes for lower prices. So overall, how does oil and energy affect the commercial real estate profession? Well, almost in the exact same way, if you break it down… Read more »

GoDaddy Founder has Grand Vision for Golf Course

GoDaddy founder Bob Parsons doesn’t shy away from name-dropping when making comparisons to his vision for a private golf club in the north Scottsdale desert. Augusta National in Georgia. Pine Valley in New Jersey. Cypress Point in California. Those are some of golf’s most-revered courses, often ranked as the world’s three best. Someday, you may find Parsons’ Scottsdale National Golf Club on one of those lists… Read more »

Chinese Equity Markets?Implications for U.S. Commercial Real Estate

The volatility on the international scene, much like the recent sudden decline in oil prices, is a stark reminder of the risks present when asset values are unusually dependent on monetary policy. Prolonged easy credit, such as investors have experienced during this recovery, has increased the vulnerability of markets to financial instability events as even small shifts in investor sentiment and the accumulation of aggressive loans can greatly magnify moves in global markets… Read more »

Forever 21 joins The Shops at Town & Country

The Shops at Town & Country has revitalized the corner of 20th Street and Camelback Road with a multi-phase redevelopment that includes opening 95,000 square-feet of retail and restaurant space since 2012. The current phase of the development will add another 40,000+ square-feet that is scheduled to open by the end of 2015. Forever 21 is the newest retailer to join The Shops at Town & Country with their first location in the Biltmore area… Read more »