Commercial Real Estate & Business News – November 22, 2017

The most attractive features of an apartment unit to renters turn out to be good management, good cell phone reception and a rent that feels reasonable, according to the just released “2017 NMHC/Kingsley Renter Preferences Report” by the National Multifamily Housing Council (NMHC). It shows the results of a survey of 269,000 renters…»
Institutional Property Advisors brokered the sale of a 240-unit community in Phoenix. The asset was sold by Kunz Investments to Caspian Properties, according to Yardi Matrix, and the transaction was subject to a $30 million loan originated and held by Hunt Mortgage Group. The property traded for $40.4 million. Mountain Park is located in Phoenix’s Ahwatukee Foothills Village…»
When Park Central Mall opened in 1957, the cars packed into the parking lot had fins, Elvis Presley’s “Jailhouse Rock” was on the radio and shoppers were riding the escalators at a gleaming, two-story Goldwater’s department store, founded by the family of the man who would run for president seven years later. The mall was two miles from downtown, perched on the edge of Phoenix…»
California is home to Silicon Valley, some of the world’s top research universities and of Waymo, the recently spun-off self-driving vehicle arm of the search giant Google. Yet when it came to deploying its most advanced autonomous technologies, the California company had no choice but to cast its gaze eastward to Arizona – where its vision was not illegal…»
As trade between the U.S, Mexico and Canada is debated by top negotiators in Mexico City as part of NAFTA, one Arizona city is working on a long-term million-dollar project that would potentially increase direct trade with Mexico. The Phoenix-Mesa Gateway Airport Authority Board will vote in the next few days to approve a master development agreement with the company Mesa Skybridge…»