Commercial Real Estate & Business News May 9, 2019

Redfin Migration Report: Phoenix is the Top Destination, Particularly among Los Angelenos and People Looking to Leave Other Expensive, High-Tax Metros Twenty-five percent of home searchers looked to move to another metro area in the first quarter of 2019, compared to 23 percent during the same period last year. The national share of home-searchers looking to relocate currently sits at its highest level on record, tied with the fourth quarter of 2018. The latest migration analysis is based on a sample of more than 1 million users who…»
Arizona Climbs to No. 7 in Magazine’s List of Best States for Business
Arizona climbed to No. 7 in an annual survey of CEOs about which states are best for business. The Grand Canyon state had been No. 9 each of the previous two years in Chief Executive’s rankings of the best and worst states for business. The magazine compiles the list each year by asking CEOs to rate the states in which they do business on taxes, quality of employees and quality of life. “Our methodology for this list is…»
Trammell Crow Buys 8.24-acre Scottsdale Parcel for $11.5M
CBRE announced the sale of an 8.24-acre site located at the southwest corner of Raintree Drive and 87th Street in Scottsdale, Ariz. The land commanded a sale price of $11.5 million.Barry Gabel, Chris Marchildon, Will Mast and Mitchell Stravitz of CBRE represented the seller, Liberty Property Trust, in the transaction. The buyer was Trammell Crow Company (TCC), one of the nation’s leading developers and investors in…»
Retail Rush: Goodyear, Arizona
Retail is alive and well-booming-in Goodyear, Arizona. As one of America’s fastest growing cities with a primary trade area population nearing 142,000, real estate developers (who collectively invested nearly $100 million just last year) are seizing available sites and properties as quickly as possible. Most recently, a West Coast developer purchased 36 acres of prime retail land for $6 million, and a joint venture…»
Opportunity Zones Can Make a Great Deal Greater
Members of the real estate community are scrambling to understand how they can profit by investing in one of the more than 8,700 low-income areas designated as federal Opportunity Zones. But it’s the asset that should drive the investment decision, not the tax benefits, says Dean Adler, CEO & co-founder of real estate equity shop Lubert-Adler Partners. “The question is, many people who are promoting these…»