Commercial Real Estate & Business News – March 25, 2014

7 Bold Commercial Real Estate Predictions

Conjuring the future of commercial real estate begins by conjuring our future. How will we work, live, shop or do business? Perhaps no other investment sector is so closely tied to people’s most fundamental needs and behaviors; its evolution, to a large extent, follows ours… Read more

Florida Homebuilder Sells The Borgata

AV Homes had purchased The Borgata in Scottsdale on September 7 of 2012 for $12.75m while simultaneously re-selling two restaurant pads with frontage on Scottsdale for $3.5m. AV Homes has held the balance of The Borgata, 81,480 SF outdoor shopping mall on 4.756 acres, since that time. AV Homes had advanced a plan to redevelop the property as “The Residences at Borgata”… Read more

Infill Projects Becoming Bigger Share Of Phoenix Market

Metro Phoenix has long been known as an area that grows outward, with new affordable communities stretching its edges farther and farther. But lately the most sought-after land by homebuilders is closer in. Infill sites from central Phoenix to south Scottsdale and Tempe are drawing both builders and homebuyers… Read more

The Office Recovery Still Has Legs

This part of the cycle looks quite favorable for the office property sector. All of the key areas of the market are improving; absorption is up, supply remains under control in aggregate, rent growth is accelerating, and investors continue to allocate capital to the sector. That being said, there is still plenty of room to run. The recovery appears to be only halfway through, after all… Read more

Tesla Factory Search Focuses On Rail Access, Distant Suburbs

If Tesla Motors lands its $5 billion battery factory in the Phoenix area, it will likely be in an outlying town such as Buckeye or Casa Grande — one with with plenty of available desert land and railroad access to California. Multiple sources familiar with Tesla’s site selection peg far West Valley or Pinal County locations adjacent to railroad links as the focus of the electric carmaker’s search in the Valley… Read more