Commercial Real Estate & Business News – March 23, 2017

The vast majority of business leaders – 86 percent – agreed they were “somewhat confident” their companies’ revenues would increase in 2017. Leaders in business tended to look optimistically at the year ahead, with more than half reporting the presidential election will have a positive effect on their companies. The same number, 54 percent, also planned to grow their staff this year…»

Shea Homes Limited Partnership in Scottsdale (Don Murphy, pres.) has found a premium location to kick off its new “Shea Signature” high-end housing brand with a 66-lot gated community located north of the site for The Ritz-Carlton, Paradise Valley. The 23-acre parcel is located at the southeast corner of Indian Bend Road and Mockingbird Lane. The builder paid $45 million ($681,818 per lot) to acquire the property from the developer of the 105-acre Ritz-Carlton master-planned resort and residential community…»

Alaska USA Federal Credit Union has paid $17 million for a 2-story, 185,000-square-foot office building in Glendale, near its existing data center, branch and vacant land purchased over the past few several years…»

The wall of CMBS maturities continues to come down, brick by brick, with 2017 fixed-rate multi-borrower maturities standing at $36 billion at the end of February, Fitch Ratings said Friday. That’s off from $41 billion in Fitch-rated CMBS as of Jan. 31and $47 billion at year-end 2016. Not surprisingly, the overwhelming majority of loans …»

The Phoenix Biltmore area is home to another co-working facility, and it may just be Arizona’s largest co-working space. Workuity, a 18,500-square-foot Class A office space, opened in March at 24th Street and Camelback Road and will be able to hold nearly 250 people…»