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In a continuing trend for well-located and well-constructed multi-family properties in the Phoenix area commanding hefty prices, three Valley apartment communities exchanged hands this week with an average price per unit of more than $200,000. In the highest priced sale of the three, DiNapoli Capital Partners paid $67.9 million ($229,392 per unit) to purchase the 296-unit Alta Tempe apartments located at 1260 E. University Drive in Tempe. The seller was a company formed by Wood Partners…» |
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The Cambria hotel & suites Chandler will be located in the heart of the Price Corridor in Chandler, Arizona. The hotel will be part of Chandler Viridian, a 25-acre mixed-use project, which also includes highly desirable office space called The Offices at Chandler Viridian, high-end apartments called Broadstone Fashion Center, sophisticated retail offerings called Chandler Viridian PRIMEGATE and a pedestrian promenade to the Chandler Fashion Center. Also featured in the master plan is a dog park, ¾ mile jogging trail connecting all of the properties, and a large public plaza with high-speed Internet and Wi-Fi – all to enhance the pedestrian experience…» |
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Mark-Taylor Inc., which has been riding the wave of demand for multifamily housing to No. 1 rankings on combined commercial real estate development lists, was an easy No. 1 when the Phoenix Business Journal today published its inaugural Multifamily Commercial Real Estate Developers list. The list was ranked by number of units started or completed…»
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Raytheon Company (NYSE: RTN) plans to expand its Southern Arizona operations by adding nearly 2,000 jobs at the Missile Systems business headquarters over a five year period. The company plans to hire workers at all skill levels with an emphasis on engineering and other higher-wage, technical positions. Job creation, facilities expansion and operational output is expected to result inbillions of dollars of economic impact for Arizona over 10 years…» |
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As the industry mulls “what inning we’re in” one thing is sure: eventually every commercial real estate cycle winds down. Speakers at recent panels and seminars have warned that a recession is nigh, saying this cycle’s lengthened recovery is historically unique…» |