Commercial Real Estate & Business News – March 24, 2014

As Phoenix Suburban Office Markets Recover, Skyline Poised to Follow

“Game on” seems to be the sentiment of Phoenix office tenants as they continue to bounce back from the recession, albeit with smaller work spaces that must achieve greater efficiencies with a reduced footprint. Suburban office markets – primarily in Tempe, Chandler and the Camelback Corridor – that are close to employees and offer higher-density parking are leading this trend… Read more

DSW, Nordstrom Rack, Total Wine to Open at Tempe Marketplace This Year

Some major new retailers are opening this year at Tempe Marketplace, shopping center operator Vestar announced this week. Shoe chain DSW, clothing outfit Nordstrom Rack and alcohol seller Total Wine & More all will be coming to the 1.3 million-square-foot outdoor mall this year. First up will be DSW, slated to open in mid-April. The store will take up 20,000 square feet… Read more

Return of the Spec Office – Kieckhefer Breaks Ground in April

With Douglas Allred seeking entitlements at one end of the Price Corridor, Kieckhefer Properties is breaking ground in April for the Chandler 202. The 140KSF, three-story, Class A office is big news. It’s one of the first spec office buildings to come out of the ground this year… Read more

Wealthy Families See Attractive Opportunities in Commercial Real Estate

Institutional capital has been pouring into the commercial real estate sector recently, helping push investment sales volumes up each year since the downturn. But it’s another pool of capital – funds from high net worth individuals and family offices – that may drive the next wave of investment. Dani Evanson, managing director with RMA… Read more

US Home Prices Expected To Rise 3% In Next 12 Months

US property prices are expected to rise 3% in the next 12 months but growth will depend on location, according to the latest real estate market report from Zillow. The Zillow Home Value Index rose to $169,200 in February, up 5.6% year on year and the number of homes listed for sale on Zillow was up 5.5% annually… Read more