Commercial Real Estate & Business News November 16, 2018

After more than a year of renovations and millions of dollars, Scottsdale Fashion Square on Thursday opened its new luxury wing. The 57-year-old mall, which is owned by Santa Monica-based Macerich Co (NYSE: MAC), is making a move toward the affluent customer by grouping many luxury and high-priced retailers near each other. The wing of the mall will also feature a number of exclusive restaurants and bars. Macerich’s leasing team brought in a number of new retailers to the wing including Trina Turk, Saint Laurent and Breiting. It also remodeled a number of its existing tenant spaces for Louis Vuitton, Jimmy Choo, Gucci and Lululemon…»

The Southeast Valley is one of the fastest-growing areas in Maricopa County, with Chandler and Gilbert representing a significant portion of the growth. The four-story, 245,000-square-foot hospital will be located on the southeast corner of Alma School Road and Loop 202 Santan Freeway. It will be adjacent to the existing Banner Health Center in Chandler and will help address the healthcare needs of area residents, including those who reside in Ahwatukee, Chandler and Gilbert…»

Stock market volatility may spur investors to allocate more funds to direct ownership of real estate. The stock market’s recent rollercoaster, with October’s sharp correction followed by a post-midterm election surge, can put the investment community on edge, including commercial real estate investors. “People who invest in real estate don’t invest in a vacuum,” says Mark Dotzour, a real estate economist who spent 18 years as chief economist of the Real Estate Center at Texas A&M University before opening a private consultancy three years ago…»

This issue of the ORA Power Ranking focuses on the student housing market, featuring the top five properties by online reputation for the top 10 public university campuses by enrollment in 2017-2018. The top 10 public university list is based on the universities’ own enrollment profiles, as recorded and tabulated on Wikipedia. Sterling 920 Terrace, located near Arizona State University in Tempe, Ariz., tops the list, with an ORA of 94…»

Which states are seeing the most inbound population movement? A report put together by long-distance moving service provider Stevens Worldwide looks at the data. SPOILER ALERT: Arizona Ranks Number 5!…»