Commercial Real Estate & Business News November 6, 2018

It’s not hard to see the area’s development boom, thanks to all the construction cranes on downtown Phoenix’s skyline. But it was harder to put numbers to downtown’s comeback. Downtown Phoenix’s comeback isn’t just an anecdotal one about construction cranes…»
Single-family rental (SFR) owners are selling off big chunks of their portfolios at the highest level in more than a decade, according to data from one research firm. This jump in volume may signal that large SFR owners are swapping portfolios as the industry continues to mature and institutionalize…»
Demand from technology tenants has driven office rents in Phoenix’s Tempe submarket up more than 15 percent over the past two years, according to CBRE’s annual Tech-30 report, which measures the tech industry’s impact on office rents in the 30 leading tech markets in the U.S. and Canada…»
A 15-acre mixed-use project on tribal land near Scottsdale has received $11.5 million in equity investment to fund development. The project, dubbed The Edge, is planned for Loop 101 and 90th Street on the Salt River Pima-Maricopa Indian Community…»
MOORESVILLE, NC-Home improvement retailer Lowe’s reports that as part of its ongoing strategic reassessment, it will be closing 51 store locations-20 in the United States and 31 in Canada. Lowe’s expects to close the under-performing locations by the end of its 2018 fiscal year (Feb. 1, 2019)…»