Commercial Real Estate & Business News June 6, 2019

Renting Gains Momentum As Analysts Seek Signs of a US Home Price Peak A U.S. housing market that some analysts say could be closing in on a pricing peak may keep more renters from becoming homeowners, bolstering demand in the already-booming rental property and apartment sectors in the next three to five years. The latest results from a second-quarter housing study show buying did not become any more favorable than…»
Crowds Returning to Local Malls Around the Valley to Enjoy New Experiences and Attractions
Over the last few years, many communities have seen their local malls turn into decaying shells from what used to be once-thriving shopping centers. The hub and gathering places of a community, now reduced to an eyesore. While developers are working to turn these retail wastelands into bustling areas full of homes, shops, offices, and medical centers, there…»
Historic FLITE Goodyear Site Where Blimps Were Built Gets New Life
When the FLITE Goodyear campus was built in 1942, it would go through many changes – including being the site where Goodyear blimps were built – before becoming the mixed-use site it is today. The facility’s 19 buildings span 901,992 square feet, has 196,823 square feet of office space in 10 buildings, 705,169 square feet of industrial space in…»
Seattle Investor Buys Phoenix Apartment Complex for $42 Million
Seattle-based Goodman Real Estate purchased a 274-unit apartment complex in Phoenix from private equity fund manager Citymark Capital and InterCapital Partners. West Town Court sold for $42 million, or about $153,000 per unit.The Class A, garden-style complex at 8400 W. Virignia Ave. comprises a mix of one-, two- and three-bedroom units ranging…»
Investment in Power Centers Spikes, In Spite of Troubles in the Larger Retail Sector
Investment sales involving power centers increased by 30.4 percent in the first quarter of 2019, marking it the most active first quarter since 2016, according to research from real estate services firm JLL.”Power centers have seen a decline in transaction volume over the last couple of years. The subsector is transitioning from a low, tempered amount of activity to…»