Commercial Real Estate & Business News July 26, 2018

SCOTTSDALE, Arizona – The iconic Scottsdale Tennis Club, with 11 championship tennis courts and pool, will soon be redeveloped into Revel Scottsdale – a refined 159-unit senior community. The property will have 270-degree unobstructed views to the west, north, and east of Camelback, Mummy, McDowell, and the Superstition Mountains. Situated on Indian Bend Road…»
The more than 2.7 million square feet of office space now under construction in metro Phoenix is the most seen since 2015. But, according to the Q2 2018 Phoenix Office Insight report from the Phoenix office of JLL, it still may not be enough to meet an estimated 4.6 million square feet of demand that is in play by companies ranging from business and financial services to high-tech and healthcare…»
The city of Phoenix is planning affordable income housing project near downtown, courtesy of a $30 million federal grant. The project, funded by the U.S. Department of Housing and Urban Development will be built in the Edison-Eastlake community near 16th and Van Buren streets…»
HSL Properties has acquired two apartment communities in its hometown of Tucson, Ariz., for a total of $37.4 million from San Diego-based MG Properties. Casas Lindas Apartment Homes, 144 units at 699 W. Magee Road, was purchased for $17.65 million. The property features one- and two-bedroom floor plans…»
By 2036, the average American family will own a 13.3 percent bigger house and a 19 percent smaller yard, with a $305,000 single-family home spanning 3,000 square feet, a new study finds. The eight- and 18-year projections by Porch, a home improvement website, stand in contrast to the average American family in 2016…»