Commercial Real Estate & Business News October 30, 2018

Arizona’s tallest skyscraper – Chase Tower in downtown Phoenix – has sold again. A New York group called Viola Lordsmeer L.P. paid $107.5 million for the 40-story tower, according to public property records. The sellers, a partnership managed by Phoenix-based Wentworth Property Co., bought the building for $79 million in April…»

Cancer Treatment Centers of America Inc. has selected Gilbert for its third outpatient care center in the Valley, following the opening of centers in north Phoenix and Scottsdale earlier this year. The new 7,000-square-foot facility near Val Vista Road and Loop 202 is expected to open in March 2019, said Rob Gould, who was named president and CEO of CTCA Phoenix in April.…»

When a Macy’s was shuttered two years ago at a shopping center in suburban Philadelphia, it marked the end of an era. For decades, the store had been an anchor of Suburban Square, a retail complex situated in Ardmore, Pennsylvania, a town along the affluent suburban corridor known as the Main Line.…»

Toll Brothers Inc. has sold off a parcel of land in a 1,352-acre master-planned community in Peoria to Pulte Homes for $10.25 million. The 126 finished lots are at the southwest corner of 95th Avenue and Pinnacle Peak Road – near Lake Pleasant Regional Park, according to Vizzda, a real estate database. The master-planned community now under construction is called The Meadows.…»

Landlords have pushed up rents for US retailers to new post-crisis highs in spite of the competitive onslaught from Amazon, with asking figures in the hotspots such as Miami rising more than 10 per cent in the past year. …»