Commercial Real Estate & Business News – November 24, 2015

New home permits taken out by home builders for Phoenix-area construction were up almost 77 percent in October compared to a year ago and are up more than 46 percent year-to-date versus 2014. But the volume of new home sales, while up, is not at the same robust pace, according to the latest numbers from the RL Brown Housing Reports… Read more »
The city of Phoenix has picked a condominium development proposal in its latest bid to redevelop the Barrister Place Building in downtown Phoenix. The building was long home to the Jefferson Hotel and was featured in Alfred Hitchcock’s 1960 movie “Psycho”… Read more »
Enviable demographics and a few key amenities have helped south-central Mesa quietly catch the eyes of deep-pocketed developers, prompting a recent surge of investment that will likely top $200 million. Proposed projects range from small-scale infill developments to lavish housing complexes — all welcome in District 2, a sector oft overlooked in favor of downtown’s storied history or the Phoenix-Mesa Gateway area’s tech-heavy allure…Read more »
LA Fitness announced that it has acquired all 11 of the 24 Hour Fitness clubs in Arizona. LA Fitness has been part of Arizona since 1993, and in an industry often associated with fad and fashion, it has steadily increased its presence by focusing on the one lifelong benefit valued by everyone: good health. All membership agreements acquired, and the related personal training services and other amenities agreements will be honored…Read more »
The Standard, a boutique-style living experience located next to Hotel Valley Ho is Old Town Scottsdale’s newest resident. The 134-unit apartment community will offer eight unique floor plans with one-, two- and three-bedroom apartment and penthouse homes ranging in size from 650 to 1,750 square feet. Dallas-based Trinsic Residential Group is developing The Standard, which will be its first project to be completed in Arizona. P.B. Bell will serve as the property management company… Read more »