Commercial Real Estate & Business News November 29, 2018

Delray Beach SofA Apartments by Related Group. The company is looking to expand to the Phoenix area, and could build apartments similar to this one in Florida. One of the nation’s largest multifamily developers is readying to break into the Arizona market with investments expected to reach $500 million…»
At least 25 apartment projects are planned or going up across the West Valley as the region responds to increased demand for rentals.  The new developments could add more than 5,000 units in the region as rents continue to rise throughout the Valley, pushing more renters to the suburbs in search of affordable rates…»
Phoenix has been named among the top 15 cities in the U.S. as a 2018 tech talent hot spot mainly because it is inexpensive and close to West Coast tech hubs, according to a Forrester Research Inc. report. Phoenix is identified as a value tech talent market because of the quality and quantity of tech talent…»
It looks like the recent spate of store closings and bankruptcies might be having an impact on the delinquency rate for retail-backed CMBS loans, as well as the overall U.S. CMBS delinquency rate, a recent report from Trepp shows. In October, the percentage of retail-backed 30-days-plus delinquent CMBS loans increased by 38 basis points…»
A former Sam’s Club warehouse store has been transformed into a speculative Class A distribution center near Sky Harbor International Airport. Illinois-based Graycor Construction Co. completed the $6.5 million HUB 317 project, which included converting the 115,286-square-foot store and a former go-kart track nearby…»