Commercial Real Estate & Business News November 2, 2018

Construction has begun on the first phase of a $57 million mixed-use development in downtown Chandler. The project, called New Square, will be built in two phases. The first phase will include 50,000 square feet of office space, a 110-room Hilton Garden Inn and 9,000 square feet of restaurant space, said developer Spike Lawrence of Spike Lawrence Ventures.…»
PHOENIX, ARIZ. – Hines, the international real estate firm, announced plans to build a 25-story, 379-unit luxury multifamily complex in downtown Phoenix. Located near Talking Stick Resort Arena, home of the Phoenix Suns, the development will be the firm’s first multifamily project in the Phoenix area. Hines has completed the purchase of…»
Nationwide Realty Investors, the real estate arm of Nationwide Mutual Insurance Cos., unveiled the name and preliminary plans for its new 134-acre mixed-use development in Scottsdale, which will also serve as the company’s regional headquarters. The development, called Cavasson, will break ground on its first phase next year…»
The nation’s apartment market saw a reversal in rent growth trends in 3rd quarter 2018, as previously slowing price positioning suddenly rose again. While nearly all top 50 markets picked up some momentum in recent months, a handful progressed at an especially solid pace, according to RealPage, the leading global provider of software and data analytics to the real estate industry.…»
Metro Phoenix is known for its sprawl – its swath of suburbs with desert-hued stucco homes and strip malls connected by a web of roads and cars. But many of those communities have sought to shed their suburban trappings. To create unique places that are more walkable, more urban. In the days of the boom, before the harsh reality of the Great Recession soaked in…»