Commercial Real Estate & Business News – October 31, 2014


The corner of Mill Avenue and Rio Salado Parkway across from the Tempe Town Lake park is getting a new tower. Hayden House Tempe LLC, closed on a 2.5-acre parcel on the southwest corner to preserve the Hayden House – home of Monti’s La Casa Vieja – and integrate an edgy, mixed use urban development… Read more »
The adjacent sister property at Portland Place, which will add 170 true lofts and finished condos to the Downtown Phoenix Roosevelt Historic and Art District is opening its sales office on November 6th. The new urban living project is aptly dubbed Portland on the Park as it is situated between the three-acre Portland Park and the 32-acre Margaret T. Hance Park bordering Central Avenue. Towers of four stories, 12 stories and 14 stories will be completed by mid-year 2016, with homes available for sale beginning in the low $200,000’s and penthouse suites under $1 million… Read more »
NextGen Apartments in Scottsdale plans to develop a 332-unit multi-family community at the northwest corner of Cooper Road and the 202 Loop in Chandler. Nextgen Apartments-Cooper 202 LLC paid $6.15 million to acquire the 19.5-acre site… Read more »
Holiday spending among U.S. consumers is expected to rise 1.9% in 2014 compared to the prior year. According to the 2014 Nielsen Holiday Retail Sales Forecast, which surveyed more than 25,000 demographically representative American households in September, 25% of respondents had already started holiday shopping in September… Read more »
“We are seeing a more educated real estate investor participate in online CRE investing and the less experienced investors are taking the time to educate themselves—Our investor content (ebooks etc) has seen thousands of downloads,” he explains. He also notes that “The average investment that an investor makes per deal is going up—Whereas our previous average was approximately $70,000 per investor’s investment, more recent offerings are closer to $90,000 and $100,000 per investor’s investment”… Read more »