Commercial Real Estate & Business News – March 22, 2017

A luxury apartment community along Washington Street, near the Red Mountain Loop 202 Freeway, sold for $25 million to Denver-based Capital Real Estate, according to the brokers on the deal. The property is along the light rail and has a mix of one- and two-bedroom floor plans, featuring detached and direct-access garages, private patios and balconies, full-size washer/dryers, walk-in closets, and nine-foot ceilings.Christopher Roach and Matthew Roach of ORION Investment Real Estate were the exclusive brokers in this transaction…»

Phoenix and Arizona both were among the top cities and states for job growth last year, according to a new economic analysis from Arizona State University. Released today, the analysis shows that Phoenix saw job growth of 3.1 percent in 2016, while Arizona saw job growth of 2.6 percent…»


Tempe-based Lennar Communities Development Inc. sold the land, which is located within the Blue Horizon Estates community at the southwest corner of Jackrabbit Trail and Van Buren Street in Buckeye. The purchased lots include 10 parcels and 206 acres of the 564-acre Blue Horizons Estates. The parcels, ranging from 23 lots to 133 lots, will be sold to multiple home builders…»

Davis Enterprises – Investments & Development, a family-owned business with many investments and redevelopment projects throughout the Valley, has announced a three-building project of 78,000+ square feet of new office and industrial space near the I-17 at 2005, 2015 and 2025 W. Deer Valley Rd. that is set to break ground on March 28…»

More then 34 percent of millennials in the U.S. are living at home with their parents, according to a new report from real estate firm Abodo looked at U.S. Census Bureau data and found 31.9 percent of millennials (age 18 to 34) in the Phoenix metro area are living with their parents…»