Commercial Real Estate & Business News October 3, 2019

Phoenix Multifamily Investment Up 37% Multifamily investment activity is soaring in Phoenix. Multifamily investment increased 37.7% in the first seven months of the year, totaling $4.7 billion, according to a new report from CBRE. Tier II markets, like Phoenix, overall led multifamily investment activity this year, up 18.5% over last year and totaling $37.5 billion of investment…»
NAIOP Arizona Experts: Here are the Opportunities for 2020
The national economic growth cycle moved into uncharted territory on July 1, as the United States broke the record of 120 months of economic growth, according to the National Bureau of Economic Research. As of September 1, the run has reached 122 months of economic growth. Here in Arizona, we are seeing that…»
RED Now Underway with Plans for $300M Redevelopment of Mixed-Use Destination at Prime Camelback Corridor Corner
RED Development is now underway with plans to develop a $300 million mixed-use destination on the northwest corner of 44th Street and Camelback Road, one of the most high-profile intersections in the Valley. The project will include a private NBA/WNBA training facility, boutique hotel, Class AA office buildings, self-storage…»
The 10 Most Expensive ZIP Codes for Renters in Arizona
The peak rental season is coming to an end, making October the perfect time to identify and rank the areas that have charged the largest rents this year. Rentcafe’s most recent report on the most expensive ZIP codes for renters in the U.S. reveals who the new contenders are, and what has remained unchanged since…»
Forever 21 to Close Three Arizona Stores
Fashion retailer Forever 21 filed for Chapter 11 bankruptcy Sunday and plans to close 350 stores worldwide, including three in Arizona, according to a Oct. 1 bankruptcy court filing. The downsizing effort will hit two Macerich-owned Valley malls – Arrowhead Towne Center in Glendale and Scottsdale Fashion…»