Commercial Real Estate & Business News – November 4, 2015

There are now more Americans renting than at any other time in U.S. history. Over the last decade, the share of renter households in the U.S. has increased significantly as homeownership rates have fallen from 69.2 percent in 2004 to 63.4 percent in 2015, the lowest level since 1967, according to a recent joint report by the Joint Center for Housing Studies of Harvard University and Enterprise Community Partners… Read more »
Arizona Coyotes could be talking to the city of Tempe and Arizona State University about building a new hockey arena. The National Hockey League franchise could move out of its existing home in Glendale depending on how the West Valley city handles a new request for proposals it has put out for managing Gila River Arena, according to Arizona Coyotes President, CEO and co-owner Anthony LeBlanc… Read more »
A plot of land in the Roosevelt Row arts district is once again slated for new construction, months after community members rallied to save vintage buildings on the site. Alliance Residential Company is under contract to buy a several-acre site at Third and Roosevelt streets for a mixed-use apartment and retail project, a representative for the company confirmed. The company has several other apartment complexes under construction in the Phoenix area… Read more »
In the second major jobs announcement for Mesa this week, an additional 400 positions are coming to the East Valley city. National General Lender Services, which provides mortgage and auto lender services, is relocating from its existing East Valley location into 70,000 square feet in the newly renovated 827 W. Grove Ave. building in the Fiesta District. The 400 NGLS jobs coming to Mesa are the second job announcement for the city in two days. Yesterday… Read more »
The historic Welnick Bros. Marketplace building in downtown Phoenix has sat vacant for the past decade. Now developers plan to restore it as an adaptive reuse project with restaurant, retail and entertainment space. Brothers Leo and Ed Welnick built Welnick Bros. Marketplace near Van Buren Street and Fourth Avenue in 1927. They operated a grocery store in a portion of the building, which was an open-air “arcade” style marketplace containing several vendors under one roof… Read more »