Commercial Real Estate & Business News May 15, 2019

As Phoenix’s West Side Grows Two New Hotels Break Ground, Expected to Open in 2020 Two Goodyear hotels recently broke ground as metro Phoenix’s west side continues to grow. The two hotels, Tru by Hilton and Springhill Suites by Marriott, will have a combined 178 rooms and share a corner off Interstate 10 and Bullard Avenue. Both are expected to open in spring 2020 and will hire a total of about 50 employees. The two hotels will join a growing roster of hotels planned for the West Valley, stretching…»
Nearly 90 Apartment Projects are in the Pipeline in Metro Phoenix, Report Finds
New apartments will continue to be built around the Valley for the foreseeable future, according to a new report compiled for the Phoenix Business Journal. Kasten Long Commercial Group identified 89 prospective apartment projects totaling nearly 22,000 units across metro Phoenix. That’s in addition to the 91 planned communities totaling 21,672 units and the 56 projects under…»
Arizona Ranks No. 14 with Home Values Rising 7.5% in Past Year
Arizona ranked No. 14 in America with median home values increasing by 7.5% over the past year, according to, which released a study on The Fastest Rising Home Values In America after analyzing Zillow Research Data from March 2018 to March 2019. This was higher than the national average which saw home prices increase by 7.2%. Chandler ranked No. 35 with median home values increasing by…»
How Apartment Owners Are Bridging the Technology Gap
Apartment owners are warming up to technology services and solutions. In the past, there, owners have been hesitant to integrate and invest in new technologies, creating a technology gap for renters. Now, apartment owners are seeing the benefits of technology-it can generate higher rents, create more efficiency and better service and actually save money by eliminating tedious and time-consuming tasks, like…»
Yardi Matrix Report Details Steady Performance in U.S. Multifamily Market
A new national report from Yardi® Matrix portrays remarkable consistency in the U.S. multifamily industry. Rents increased by $5 in April 2019 as robust job creation continues to drive absorption of about 300,000 new units per year. The average rent increase represents year-over-year and year-to-date growth of 3% and 0.8%, respectively. While these figures, based on a survey of 127 major U.S. real estate markets, represent…»