Commercial Real Estate & Business News – May 7, 2015

Commercial Mortgage Originations, Including CMBS, Rising to Meet Refinancing Demand

In J.P. Morgan?s estimates, year-to-date private label CMBS issuance has already outpaced the levels seen during the same period last year by 48 percent and remains on pace to reach at least $105 billion in new issuance for full-year 2015… Read more »

TA Associates Pays $42+ Million for 460,669-Square Foot Portfolio of Office-Industrial

A limited partnership and a fund formed by TA Associates Realty paid $42.178 million (blended average of $91.56 per foot) to acquire 460,669 sq. ft. of office and industrial space in nine buildings in Phoenix. The properties were sold by companies formed by Jim O’Donnell of White Star Development… Read more »

Nation?s Busiest Apartment Developer Closes Two Valley Sites Planned For 536 Units

The nation’s busiest apartment developer in 2014 – Alliance Residential Co. in Phoenix – has closed on multi-family sites in Gilbert and Phoenix that are planned for a total of 536 units. Two separate companies formed by Alliance Residential paid a combined $12.35 million to buy 17.6 acres that will be used to build the communities. With 7,500 apartments started in the U.S. in 2014, the National Multifamily Housing Council recently ranked Alliance Residential as No. 1 in the country among apartment developers as far as new construction… Read more »

PHX Seeks Developer for Fillmore Site

High hopes stretch across a 7.6-acre piece of land in downtown Phoenix. The property, on the south side of Fillmore Street between 4th and 6th avenues, is the last sizeable vacant lot downtown. With popular gathering places such as The Vig, Cibo and Crescent Ballroom nearby, it has the potential to become a landmark in the area… Read more »

Sam Fox opens first Flower Child location in Scottsdale

Flower Child, Sam Fox?s healthy fast-casual restaurant opened its first Scottsdale location yesterday, Tuesday, May 5, at Shea Boulevard & 90th Street. The latest locale will serve farm-to-table fare that?s healthy and served in a happy, fast-casual kitchen… Read more »