Commercial Real Estate & Business News – July 23, 2014

Why Millennial Investors Love Real Estate

Millennial investors seem to understand that a well-balanced portfolio shouldn?t just consist of traditional blue-chip equities and bonds, but a variety of asset classes. This generation was, and continues to be, greatly impacted by the Great Recession in several ways… Read more »

Multifamily Occupancy Stays Above 95 Percent in June

In May, the apartment occupancy rate rose above 95 percent for the first time since Dallas-based Axiometrics began tracking the apartment market six years ago. In June that number stayed above 95 percent, while the concession rate fell to 0.78 percent (a five-year low), and annualized rent growth grew to 3.6 percent (the highest total since December 2012)… Read more »

Impact Church Residential Units Head for Scottsdale Action

mpact Church is pursuing the last steps in the approval process to start building its residential half. The unusual combination of church and multi-family located at the site of the former GM dealership in the Scottsdale Airpark cleared city council approval this spring… Read more »

Culinary Dropout Restaurant Coming To Tempe’s Farmer Avenue

Mill Avenue has been Tempe’s golden egg for years. Whether it’s a hangout for Arizona State University students, an evening of fine dining for young urban professionals, or a night out on the town to go clubbing, Mill Avenue is almost always the first place people go when they come to Tempe… Read more »

Report Indicates Retail Spending Up In Arizona

The jobs may not be returning very fast, but a new report Monday shows the Arizonans who are employed are loosening up on their wallets. New figures from the state Department of Revenue showed taxable retail sales in May hit nearly $4.58 billion. That’s a 7.6-percent increase from the same time a year earlier… Read more »