Commercial Real Estate & Business News July 3, 2018

When developers started seeking out Chris McClurg and Ken McQueen to look at potential sites to reuse or build industrial developments, the two knew the tide was turning in the industrial market. Since then, the two Lee & Associates brokers, have teamed with seven developers on eight projects to create speculative developments for industrial space…»
Scottsdale, Ariz. – The fifth Class A office building will rise at SkySong, The ASU Scottsdale Innovation Center in the coming months. With the other four SkySong office buildings at high occupancy, the SkySong development team will begin work on SkySong 5, with a groundbreaking ceremony to take place on July 9…»
North Phoenix, specifically the Deer Valley area, is proving to be a hot spot for industrial real estate, according to DAUM’s Vice Presidents Chris Rogers and Trevor McKendry. As investors continue to choose Phoenix to build and develop properties, Deer Valley ranks high for multiple reasons…»
Downtown Phoenix is getting another trendy, high-rise hotel and office building. The Phoenix City Council has agreed to sell a small piece of property at Central Avenue and Adams Street for $2.8 million to Berger Holdings. The development group plans to build a 20-story “lifestyle hotel” with a “creative office component.”…»
Phoenix-based Grand Canyon Education Inc. (Nasdaq: LOPE) sold its Grand Canyon University for $853.1 million, according to a filing Monday morning with the U.S. Securities and Exchange Commission. This deal is part of GCU’s efforts to revert back to its nonprofit status…»