Commercial Real Estate & Business News – May 25, 2017

A deal is brewing and could close soon on the much-watched CrackerJax land in Scottsdale. The land is currently home to the CrackerJax Family Fun and Sports Park on Scottsdale Road south of Bell Road…»
While most of the buzz on the show floor this year has been around the upheaval in the regional mall space and the slowdown in the investment sales market, the overall mood remained positive.…»

According to “Mall Monitor,” a report from Chicago-based Morningstar Inc. (NASDAQ: MORN), an investment research and investment management firm, Fiesta Mall had one of the largest projected losses in the country, based on its loans and value. …»

A shortage of homes for sale has bedeviled U.S. house hunters in recent years, so why don’t builders build more? One problem is that they’re running out of lots to build on-at least in the places that people want to live. …»
Construction began in Mesa Wednesday on a 50-unit affordable housing project designed for artists that advocates say will infuse creative thinking into a downtown area that already places a high priority on engagement with the arts.…»