Commercial Real Estate & Business News – July 9, 2015

Investment Property Associates LLC (IPA) is assembling an infill site north of Camelback Road along the west side of 16th Street in central Phoenix that is expected to be redeveloped as several hundred housing units. The 13-acre assemblage is comprised of two properties and includes an existing office complex and apartment project, both built in the 1970’s… Read more »
The silicon wafer fabrication plant, which sat on over 34 acres at the northeast corner of 9th street and Bell Road, has been demolished to make way for a new mixed-use project. The Trellis on Bell will comprise of 306 multifamily units, 61 condo units, 38 single family residential lots, and five commercial mixed-use buildings. The undertaking is being led by Evergreen Development, who purchased the plant from Western Digital Corporation in December of last year for $7.3 million, or just under $235,000 per acre… Read more »
Arizonans seemed to eat and drink their way through the great recession. Overall, sales taxes are an important revenue source for cities, which rely heavily upon them for day-to-day operations. In some municipalities, like Gilbert, state and local sales taxes account for more than half of operating revenues… Read more »
Phoenix housing prices continued to rise for the month of May, but folks looking to enter the Phoenix housing market may be relieved to hear that tight supply for mid-range homes may ease up as more building permits have been issued, according to new data released by Arizona State University… Read more »
In a report released by real estate advisory group RCLCO on July 7th, 2015, Eastmark was ranked among the top 20 top-selling master-planned communities in the nation during the first half of 2015. In fact, Eastmark was ranked within the top 10 at #8… Read more »