Commercial Real Estate & Business News – June 8, 2017

While nationwide apartment rents are still on the rise, several markets have recently faced spikes in rent, according to a recent ABODO report. Rent decreases going into June, on the other hand, were on the smaller side. Apartment rents are still rising nationwide, but there is a lot of volatility among the country’s many markets…»
The apartment sector continues to attract elevated levels of investment in Phoenix. Transaction volume for multifamily property in Phoenix is at historic highs – total sales topped $5 billion last year – and pricing continues to trend upward. While sales of high-end multifamily properties typically account for at least half of the annual transaction volume…»
Arizona State University (ASU) and master developer Catellus Development Corporation announce the next phase of the Novus Innovation Corridor, the bold new community created by ASU’s establishment of a university athletic facilities district. When completed, Novus will integrate more than eight million square feet of private, mixed-use urban development…»
he Maricopa Association of Governments (MAG) added $1.25 billion to the county’s long-range regional transportation plan, a plan for development along light rail and highway systems throughout Maricopa County. The addition increases the total funding for the plan to $5.7 billion…»
Infill developer Deco Communities is delivering a second condo development in downtown Scottsdale. The Inspire Downtown Scottsdale condos will officially open June 17. The residential development is located on Earll Drive near Drinkwater Boulevard. There are 97 Inspire condos…»