Commercial Real Estate & Business News June 19, 2019

Speed Bumps Ahead for Industrial Assets Don’t Diminish Investor Appetite Slowing economic growth, trade wars and a pipeline that is delivering new supply to the market may force investors to adjust return expectations for industrial properties, but it doesn’t appear to be putting much of a dent in buyer demand. Industrial has edged out multifamily as the favored asset class and there continues to be…»
Design for SkySong 6 Unveiled as it Enters Pre-Leasing
Office leasing momentum remains strong at SkySong – so much so that the project’s sixth building has now been designed and launched for pre-leasing. SkySong 6 will be the next building to be constructed at SkySong. Project architects, Butler Design, Group have created cutting-edge design concepts and renderings for the new building, which will…»
Coworking Operator Buys Historic Downtown Phoenix Building
Chicago-based Novel Coworking LLC is opening its second coworking and flexible office space in the Valley after buying the historic Heard building in downtown Phoenix. Novel paid $11.4 million June 14 for the 100-year-old building at 112 N. Central Ave., according to Maricopa County records. The eight-story, 77,000-square-foot building is…»
Minimum Earners in Arizona Must Work 71 Hours to Afford a Two-Bedroom Apartment
Arizonans making the state minimum wage must work two full-time jobs, effectively, to afford a market-value two-bedroom apartment, according to a national report released Tuesday. The National Low Income Housing Coalition’s (NLIHC) on Thursday released its annual study on the gap between rental housing costs and income for…»
ORION Investment Real Estate Represented the Owner/User of Historic Office
Located near the Central Avenue Corridor, one half mile south of Thomas Road and 7th Street, this 5,500 square foot freestanding building sold for $735,000, or $134 per square foot. The property benefits from good exposure along 7th Street, with over 41,000 vehicles passing…»