Commercial Real Estate & Business News – October 23, 2020

U.S. Commercial Real Estate Showing First Signs of a Thaw
(Bloomberg)-U.S. commercial real estate deals tumbled in the third quarter as Covid-19 continued to hammer the economy, but prices showed signs of improvement, according to Real Capital Analytics Inc. While investment volume fell 57% from a year earlier…»
Kennedy Wilson Acquires Tempe MF for Nearly $70M
Los Angeles-based Kennedy Wilson Multifamily acquired Apache Station Apartments in Tempe for $69.75 million. Danville, CA-based Green Leaf Partners sold the 400-unit apartment complex at 2323 E. Apache Blvd. The 387,532-square-foot property is spread across nineteen…»
Demand Solar Development Land Soars in Phoenix
Land banking and development company Vermaland has leased more than 4,500 acres of land to solar developers in recent months. The activity illustrates a recent surge in demand for solar land in Arizona. In eventual land purchases, these leases could total $40 million,…»
Barrio Queen Will Open Glendale Location in December
Barrio Queen will open its first West Valley location this December. Located 7640 W. Bell Road, it not only marks the sixth Barrio Queen location to in the Valley, but its largest-the new location will encompass more than 7,000 square feet. In anticipation of the opening…»
Class A Apartments in Top Markets Are Leading the Rise in Concessions
Apartment concessions are increasing in the nation’s most expensive markets. The coronavirus pandemic has undoubtedly put pressure on the apartment market, and many metros are seeing an increase in concessions as a result. However, metros with higher…»