Commercial Real Estate & Business News March 12, 2019

Another Upscale Apartment Community Opens in Booming Downtown Phoenix
A juice bar and bike-washing station are among the perks in the latest upscale apartment community to open to renters in downtown Phoenix, during what’s expected to be a peak year for apartment construction in the revitalizing area as developers try to keep up with feverish demand for luxury rentals. Real estate company Hunt Cos. Inc., developer…»
Camden Returns to Strong Phoenix Market With $97 Million Purchase
One of the country’s biggest multifamily investors has returned to the Phoenix area to buy apartments for the first time in seven years, a sign of strength for the robust market. Camden Property Trust, a real estate investment trust out of Houston, plunked down $97 million for the 316-unit, low-rise property at 7350 E. Stetson Drive in…»
Phoenix Multifamily Market Counts Nearly $1 Billion in Apartment Sales Midway Through First Quarter
Last year, apartment sales set a new record in Phoenix as more than $6.2 billion worth of multifamily properties were sold, shattering the previous high of $5.1 billion set in 2016. The average price per unit for apartment properties in Phoenix also soared to a new all-time high of $145,000 per unit, a 27 percent jump from the previous year. Early…»
3 Arizona Cities Among Top 100 Best Places to Live has released its sixth annual Top 100 Best Places to Live list. The new rankings are the culmination of months of exclusive research into relocation trends, economic variables and factors that influence quality of life for everyone. Forty-seven states are represented from coast to coast. The 2019 rankings were guided by an…»
Mavrix Will Give Scottsdale New Hot Spot
Scottsdale will soon welcome Mavrix, the Valley’s newest entertainment hub, offering 24 lanes of upscale bowling, 85 arcade games, state-of-the-art laser tag, billiards tables, dozens of 4K televisions, 1,500 square feet of meeting and event space, a 5,000 square-foot restaurant and bar featuring chef-prepared menu items and a…»