Commercial Real Estate & Business News – November 11, 2016


Like many business sectors, the U.S. real estate industry on Wednesday began to grapple with the unexpected economic and regulatory impact of an upcoming Trump presidency after the famous reality TV star and Manhattan real estate mogul defied pundits and pollsters to defeat Hillary Clinton and become president-elect of the United States. …»
A relatively small 63,000-square-foot office complex in the Scottsdale Airpark has sold for $14.7 million. The Cornwell Corporate Centre has three small office buildings on 5 acres at Greenway Parkway, Scottsdale Road and 73rd Street.…»

A Roseland, N.J.-based human-resources company is hiring for 1,500 jobs at the Tempe building that formerly housed US Airways, the company announced Thursday. ADP took possession of the 200,000-square-foot building Nov. 1 and has begun gutting the building and advertising jobs, most of which will require four-year college degrees, officials said Thursday.…»

Real estate developer Hines, Concord Hospitality Enterprises Co. and Choice Hotels are starting construction a new 136-room Cambria Hotel and Suites in Chandler. That is part of Hines’ big 25-acre Chandler Viridian development next to Chandler Fashion Center mall. Hines brought its Viridian project to the site of the failed Elevation Chandler development.…»
With retailers approaching record occupancy levels and running out of space they find desirable, developers are expected to selectively ramp up construction levels in 2017 to accommodate the rising tenant appetite for the highest quality and best located retail space. …»