Commercial Real Estate & Business News – October 11, 2017

It’s an inexorable fact of human existence that some people can adapt well to change and others struggle. It is no different in the world of real estate. Brick-and-mortar infrastructure has historically evolved based on the needs, utility and technological innovation of the populations it serves. Commercial retail is currently in the midst of a significant downturn…»
Meritage Homes (NYSE: MTH) has paid close to $18 million for 224 acres in Surprise at the Marley Park development, according to Business Real Estate Weekly of Arizona. BREW also reports Meritage could build 950 homes at Marley Park which is located at Cactus Road and the Loop 303. Scottsdale-based DMB Associates – the master developer at the Surprise project – sold the land to Meritage…»
Apartment rents continue to grow more slowly than before. The cities where rents grew the most in 2016 are still top cities for rent growth this year, but their lead is getting smaller. “A year ago there was a pretty big spread between Houston, which had rent growth of about 1 percent, and Sacramento, which was much larger -nearly 12 percent…»
Canopied paths and sidewalks intermingle under lush citrus trees and trellised gardens at The Grove, an aptly named shopping and dining destination set to take shape in Scottsdale’s McCormick Ranch.
Inspired by Santa Barbara-style architecture and lifestyle, the 32,000 square foot mixed-use project is the latest from developer DBM Ventures…»
Home affordability in the United States improved in the third quarter of 2017 in 60% of counties but it is still worse than it was a year ago in 79% of them, new research shows. Those seeing an improvement include Los Angeles, Cook County in Chicago, Harris County in Houston, Maricopa County in Phoenix, San Diego…»