Commercial Real Estate & Business News March 26, 2019

Great Wolf Lodge Will be Latest Indian Country Entertainment Destination
One of the most anticipated projects the Valley has seen in decades is coming together on Salt River Pima-Maricopa Indian Community land in Scottsdale. The state’s first indoor water park, located next to Salt River Fields at Talking Stick, is in the stretch run of construction, with sights set on a late summer/early fall completion. The designers…»
Property Prices Keep Rising in the Student Housing Sector
Investors continue to be willing to pay up for student housing assets. “Capitalization rates have continued to compress,” says Jaclyn Fitts, director of student housing for CBRE Capital Markets in the firm’s Dallas offices. Investors spent a record amount of money to buy student housing properties in 2018, pausing only briefly towards the…»
A Recession May Be Coming, but Not for Commercial Real Estate Investors
Financial headlines have been full of worries about a possible recession and a downturn in commercial real estate markets. Recessions often precipitate a decline in real estate markets, but long periods of increasing construction and rising property prices may pose risks of their own. Stock prices fell sharply in December in a bout of…»
Phoenix Arts District Demand Sizzles in One of the Newest Walkable Areas of Its Kind in the Country
A Seattle area investor just paid one of the highest prices for an apartment property in the history of downtown Phoenix as the neighborhood rapidly emerges as one of the nation’s newest walkable arts and residential districts. An affiliate of Kirkland, Washington-based investor Weidner Investment Services Inc. paid $84.2 million…»
Why Scottsdale Airpark Is Exceeding Expectations
The Scottsdale Airpark is on fire-and it is rapidly exceeding the industries expectations. According to the latest forecast report from Colliers International, the Airpark has 59,132 employees, more than 43 million square feet of rentable space and 3,233 companies-and it still has runway left to grow. This is incredible growth since the…»