Commercial Real Estate & Business News – July 7, 2014

Where Cities Are Growing Faster Than Their Suburbs

In 19 of the 51 largest U.S. metros, the city grew faster than the suburbs last year — even sprawling Sunbelt growth corridors like Phoenix, Orlando, and San Antonio. All of these metros experienced faster growth in their primary cities than the San Francisco, Boston, or New York metros did… Read more

Three Top Markets for Canadian Investors

Are there certain geographic areas that are a stronger focus for Canadian investors? How are Canadian investors picking their markets? Strong areas are the Southeast and Southwest, especially Arizona. In particular, Palm Springs, southern California, Florida, and Arizona are very popular… Read more

Millennial-Driven Housing Boom Coming

The Millennials who for years have been holed-up in their childhood homes, won’t be there forever. They really do want to move out, according to a study by Harvard’s Joint Center for Housing Studies, and by 2025 could form 24 million new households… Read more

City 15 Trades for $11M

Mica Creek-Sagamore Capital Partners of Phoenix sold City 15 to Retirement Concepts of Vancouver. The $10.85 million sale price brought $67,391 per unit, which equates to $102 per square foot. City 15 a multifamily property located at 4728 N. 15th St. The property was built in 1969 and contains 26 buildings with 161 units. It was 96% occupied at the time of the sale… Read more

PV Council Sets Tone for Sanctuary Expansion

The unique hospitality destination, Sanctuary Camelback Mountain Resort and Spa, is proposing some changes and renovations to the existing main house with a new four-unit casita. The intent is to expand the scope of the resort to accommodate groups of guests sharing their stay at the resort… Read more