The Greater Phoenix commercial real estate market closed 2015 on a fairly high note, with most property sectors showing strengthening fundamentals. The office market is improving at the fastest pace, with vacancies tightening and rents rising. Net absorption of office space topped 1.9 million square feet in the fourth quarter, bringing the total for all of 2015 to more than 3.5 million square feet. This drove the vacancy rate down to 17.2%, 90 basis points lower than one year earlier… Read more »
With the real estate market taking a positive turn in investments, buyers and sellers are beginning to think about creating long-term office locations. While the future of the dynamic market is undetermined, tenants know they want to create work-play environments rather than a block of concrete buildings. “Capital is definitely flowing into Phoenix,”… Read more »
Thinking outside the box by creating partnerships with area businesses and fostering its online reputation is paying off for the Residences at Fountainhead apartment complex in Tempe. Situated in a verdant, 90-acre business park close to freeway access and just minutes from Sky Harbor International Airport and the downtowns of Tempe, Phoenix and Scottsdale, the six-building community featuring 322 two-bedroom, two-bathroom homes opened one year ago at 2520 S. Plaza Drive… Read more »
House prices may have recovered from the mortgage-lending debacle of the 2000s, but millions of people who lived through the mess still have a long way to go. A new report from the Urban Institute’s Housing Finance Policy Center offers a valuable glimpse at what has happened to the U.S. population’s housing and credit status since the turn of the century. Of particular interest: A group of about 19 million renters who, at some point in the past 16 years, used to be homeowners… Read more »
It’s exciting—and rare—to find an internationally recognized architectural firm applying their expertise to an intimate, primary home community. Often these groups are booked solid serving resorts, five-star hotels and exclusive second home destinations. So when Harvard Investments approached Bing Hu, architect and principal of H&S International, to design their Community Center amenities at Cadence at Gateway… Read more »