Commercial Real Estate & Business News July 15, 2019

Lenders Open Up to Phoenix Construction Deals A few years ago, securing construction debt was a challenge in Phoenix, but today, lenders are actively chasing deals. The capital markets appetite illustrates the evolution of the Phoenix market. Scott Meredith of George Smith Partners recently secured a $67.3 million construction loan for the development of a 254-unit 14-story multifamily property in Phoenix…»
Texas Investor Buys Downtown Land, Plans High-rise Tower
Downtown Phoenix continues to see interest and activity from investors. This week, a Texas investment group scooped up a parcel of land with an eye toward developing a high-rise tower that could potentially be the tallest building in the state…»
Transwestern Buys Camelback Esplanade III
Transwestern today announces it has purchased Camelback Esplanade III, a trophy, Class A office tower in the Camelback Corridor of Phoenix. A joint venture between the commercial real estate company and an institutional partner acquired the 218,387-square-foot, 10-story building. Transwestern Executive Managing Partner Jim Fijan and Director Jack Fijan, represented the buyer…»
Midsize Tenants Dominate Demand for Industrial Space
E-commerce and last mile logistics tenants are fueling additional demand for industrial space expansion in the U.S., spurring midsize space users to dominate the industrial market. Midsize industrial tenants-those who occupy 50,000-sq.-ft. to 300,000-sq.-ft. boxes, are driving industrial demand in key markets, including Indianapolis, Chicago, Atlanta and Dallas, according to a report…»
HonorHealth Hits Construction Milestone With New Valley Hospital
The Union at Riverview, a massive office development planned for Mesa’s Riverview District, scored its first tenant just as it was approved this week by the Mesa City Council.Most of the first building will be occupied by WageWorks, which has committed to a lease agreement with developer Lincoln Property Co. The company, which specializes in administering consumer-directed health benefits accounts…»