Commercial Real Estate & Business News – June 1, 2017

PHOENIX – A rusted shell of what once was a produce warehouse is an unlikely setting for a tech renaissance – but it’s happening on a small patch of land a few blocks south of downtown Phoenix. Within the two square miles that house Phoenix’s Warehouse District, there’s ample evidence amid dozens…»
Phoenix-Mesa Gateway Airport has been having a pretty good go of it for the past year or so: the East Valley regional airport got its first international flight, has been breaking passenger records and was recently cleared by the Federal Aviation Administration to have around 700 acres next to the airport open for development. Phoenix-Mesa Gateway just landed Constant Aviation last week as well, which will establish a new operation in a 74,486-square-foot space…»
The last concrete beam has been placed atop 7120 Optima Kierland, signaling the culmination of this phase of construction and the beginning of a new era of luxury, high-rise condominium living in North Scottsdale. Optima Kierland’s structure is now complete with more than 60 percent of the homes in the first condominium tower now sold. Move-ins for the first residents are scheduled for early 2018; completion of all residences is set for August 2018.…»
Scottsdale ranks as one of the most expensive U.S. markets for a two-bedroom apartment and Gilbert is one of the more expensive multifamily markets in the Southwest.That is according to the latest apartment data from Zumper a San Francisco-based apartment rental website.…»
Scottsdale-based Solterra Senior Living is building three low-income assisted living projects totaling $66 million. The first project, called Bridgewater Deer Valley, is set to open its doors June 5 in a former Comfort Inn hotel in north Phoenix, with a midtown Phoenix location to open in 2018. A third location is slated to break ground in Avondale later this year…»