Commercial Real Estate & Business News – July 28, 2016

The Federal Reserve announced today that it will not raise the interest rate, staying the course amid a disappointing earnings cycle and a post-Brexit landscape. Central bank officials were meeting this week for the first time since Britain jostled the markets by voting to pull out of membership in the European Union…»
CMBS loan delinquencies have ticked higher in recent months and experts are predicting a more volatile stretch for the second half of the year as more large loans mature…»
Developers Unveil New Plans, Bring in Artists for Circles Records Redevelopment
The development group looking to bring a new 19-story apartment tower to the old Circles Records building in downtown Phoenix has unveiled new plans aimed at easing opposition from preservationists worried about the future of a property first built in 1946…»
A Starwood-brand hotel could soon join the growing list of tenants at south Scottsdale’s SkySong development, where a mix of mid-rise office towers, apartments and restaurants are rising around the complex’s iconic tent-like canopy. Arizona State University Foundation officials in early July told city leaders they’ve landed a  hotel for the mixed-use project…»
A new Class A office building was recently completed by developer SAXA. The Scottsdale, Ariz.-based developer worked with LGE Design Build on project known as Bahia 101, the first project of its kind completed in the Scottsdale Airpark since 2009…»