Commercial Real Estate & Business News – March 26, 2015

Research Suggests Apartments Contribute $1.3 Trillion to U.S. Economy

The NMHC published a report this year indicating that the apartment industry contributes $1.3 trillion in economic activity to the U.S. economy every year, which translates into 12 million jobs. That total includes $100 billion in construction spending, $190 billion in operating apartment communities and $1 trillion in resident spending… Read more »

Is Your Retail Business Ready for the Switching Economy?

Technological change is affecting the retail industry dramatically ? and one area it?s transforming is customer expectations. Today, consumers are 29 percent more likely to switch companies than they were five years ago, reports Accenture?s latest Global Consumer Pulse Research. It seems that the ability to buy from anywhere, anytime, on any device has caused customer expectations to rise ? so much so, that most businesses can?t keep up… Read more »

$38M Cocktail-Themed Apartments Open in Scottsdale, Class A Complex in Ahwatukee

Apartment developers and landlords are looking for every competitive and marketing edge they can get with the waves of new and refurbished units hitting the Phoenix marketplace… Read more »

Levine Adds To Infill Assets…Pays $15 Million For Plaza By Scottsdale Fashion Square

In keeping with a strategy to buy well-located infill properties that can be upgraded and leased to quality commercial tenants, Levine Investments Limited Partnership paid $15 million ($500 per foot) to acquire a mixed-use property located across the street from Scottsdale Fashion Square. The 30,000-square-foot project, comprised of retail, commercial and showroom space, sits on a 3.26-acre parcel at the northeast corner of Scottsdale Road and Highland Avenue… Read more »

Getting Hot in Phoenix

PHOENIX?Things are heating up in the Phoenix metro area. There are clear patterns that seem to be emerging around the country as cities revitalize around a new tenant base, such as technology or medical office, which are supplanting more traditional occupants, at least for now. The core Phoenix market is certainly holding its own, reports Andy Weflen. For the eye-popping transactions, however, you?ve got to look to the outer regions of the metro ? to Tempe, Scottsdale and Chandler, AZ… Read more »