Commercial Real Estate & Business News – July 21, 2014

Heitman America Real Estate Trust (HART) in Chicago, Ill. paid $74.75 million ($276,852 per unit) to acquire the 270-unit Broadstone Camelback apartments located in the Biltmore area of Phoenix. The purchase price is believed to be the highest dollar amount per unit ever paid for a conventional apartment project in the Valley. The luxury multi-family community, located at… Read more »
Disruptive innovations in the business world help create new markets or alter existing markets. Such innovations sometimes lead to old-guard companies being supplanted by new competitors. The real estate industry is no stranger to this—especially in the retail industry… Read more »
Columbus-based Nationwide Realty Investors announced today that it has signed a lease with Arizona based health and wellness leader Isagenix International, LLC to occupy a three-story single-tenant building at its master-planned Rivulon development in Gilbert, AZ. Also completed is a land swap agreement with LA Fitness…Read more »
Total US residential foreclosure activity decreased during the month of June by 2% from the previous month and was down 16% from a year ago to the lowest level since July 2006, according to a report from RealtyTrac. US properties with foreclosure filings in the first half of 2014 decreased 19% from the previous six months and 23% from the first half of 2013… Read more »
In the rolling, undeveloped outskirts of the metro area, tracts are easy to plan, grade and build. When it comes to infill, there are challenges—like lot configuration. Pony Acres presents a head-scratching, creative juice-flowing project to Ayers Saint Gross Architects + Planners. Developer McClintock Station LLC has a 5.1 acre parcel with an existing mobile home park… Read more »