Commercial Real Estate & Business News May 29, 2019

Current Economic Expansion Could Become Longest Yet, Says Nadji The reinvention of the retail sector now underway is getting a boost from a U.S. economic expansion that is nearly a decade old but which still has legs, says Hessam Nadji, president and CEO of brokerage services firm Marcus & Millichap. Meanwhile, demographic shifts have altered the retail landscape in profound ways and will continue to…»
The Case for the Continued Strength of the Multifamily Sector in 2019
Capital One’s survey conducted at the National Multifamily Housing Council’s annual conference earlier this year offered a lot of food for thought regarding the outlook for the multifamily sector in 2019. The vast majority of respondents – 70 percent – believe that we’re nearing the end of the current economic cycle. But despite that notion and…»
M. A. Mortenson Co. Unveils Plans for The Beam on Farmer
M. A. Mortenson Co. unveiled plans for The Beam on Farmer, a 182,000-square-foot office project in Tempe, Arizona. The privately-held corporation plans to break ground on the facility later this year. The five-story structure at 401 S. Farmer Ave. will utilize exposed cross laminated timber construction, a wood panel product made from…»
The Astor at Osborn Officially Opens
High Street Residential and MetLife Investment Management announce that The Astor at Osborn is officially open and ready for occupancy. The 5-story, Class A residential building features 191 residences ranging in size from 583-to-1,358 square feet -with a 5-story parking garage. The mixed-use project is located at 7th Avenue and…»
Developer Buys Land for First Apartments in Phoenix’s Warehouse District
Downtown Phoenix’s warehouse district, already an emerging center for the arts, restaurants and shops, is about to get its first apartments.The Atlanta-based developer Wood Partners paid just over $6 million for 7.3 acres at 6th Avenue and Lincoln Street and has broken ground on Alta Warehouse District, a 300-unit community. Construction is under way…»