Commercial Real Estate & Business News – June 22, 2017

WASHINGTON, DC-Existing-home sales were looking up again in May following a drop in April, the National Association of Realtors said Wednesday. The metric was closely watched not only as an indicator of the residential market but also of the the health of the economy as a whole…»
An arm of Los Angeles-based Dunbar Real Estate Investment has bought an office center on Scottsdale Road in the Scottsdale Airpark for $7.3 million. The Scottsdale Business Center sits on 4.73 acres and totals 56,439 square feet. Dunbar SBC LLC bought the Scottsdale development from an entity called Arizona SBC LLC out of Scottsdale…»
Sedona Vista Village is set to transform the faltering 90,000-square-foot Sedona Village Factory Outlets with a renovation and by adding the town’s first Westin hotel to anchor the newly purchased 9-acre development located on SR 79 in the Village of Oak Creek, known as the gateway to Sedona…»
Domestic and global investment in multifamily housing is on the rise throughout the United States-especially for Class B and C properties. Several contributing factors have fostered this development, including an oversupply of Class A communities in combination with a drop in demand, the rising cost of homeownership, and millennials entering the market by the millions…»
PHOENIX, Arizona – ORION Investment Real Estate is pleased to announce the sale of Bell Plaza, located at the signalized corner of 17th Avenue and Bell Road, for $3,275,000 ($229 PSF). Bell Plaza is a 14,320-square-foot strip center, situated on approximately 1.41 acres…»