Commercial Real Estate & Business News – October 11, 2013


Here, where the housing market endured one of the hardest crashes anywhere during the recession, the rebound has come faster than in most parts of the country, fueled by a vigorous job market, a sturdy rise in home values and an all-around sense that the worst of times is in the distant past… Read more
Alliance Residential Co. in Phoenix (Bruce Ward, Bob Hutt, Jay Hiemenzpartners) plans to build 316 apartment units southeast of Camelback and Scottsdale roads in the Old Town area of Scottsdale. Sources say Alliance Residential is paying $18.5 million to buy the multi-family land, which is comprised of two parcels totaling 5.4 acres. The seller is a company formed by Triyar Capital in Scottsdale… Read more
GPS Insight, a technology provider of GPS fleet tracking software for fleet-based companies, has signed a lease for 49,571 square feet at Henkel Corporate Center. The company will use the new space for its corporate headquarters. The lease brings the 348,000-square-foot Henkel Corporate Center at 19001 N. Scottsdale Rd. to 95% occupancy… Read more
Scottsdale collected more tax revenue from McDowell Road businesses in 2012 compared to 2010. But don’t expect revenue to bounce back to the glory days. The City Council, in a study session Oct. 8, delved into strategies to reawaken the 3-mile McDowell corridor, which has struggled after the closing of Los Arcos Mall and the loss of long-standing car dealerships… Read more
Canadian commercial real estate investment volume and asset prices have exceeded pre-financial-crisis levels, according to Avison Young’s Fall 2013 Canada, U.S. Commercial Real Estate Investment Review. The improving performance continues to fuel investment activity in the U.S., according to the report… Read more