Commercial Real Estate & Business News – October 8, 2014

The Valley’s commercial real estate market will continue to improve slowly in 2015 with promising growth in residential rental housing, an Arizona State University real estate professor said. “We don’t see big changes in 2015 at all,” Mark Stapp with ASU’s Center for Real Estate Theory and Practice told those attending the SRP 2015 Economic Forecast on Oct. 2. However, Stapp said population growth in the metro area will increase demand…Read more »
The economic news for August appeared to contain dismal news for the housing market with existing home sales down 5.3% from a year ago and down 1.8% from July, but the opposite is the case. August’s numbers demonstrate that the housing market is improving and that the low hanging fruit (i.e. below market units) is gone and that investors are leaving the housing market because the ability to turn a quick profit had ended…Read more »
OliverMcMillan, a boutique real estate developer known for creating artistic, enduring destinations, has broken ground on SALT – a four-story, 265-unit, Class A apartment community in Tempe, Ariz. The development will feature studio, 1, 2, and 3 bedroom living spaces. Residents will enjoy boutique resort style amenities with…Read more »
A Scottsdale real estate company is developing a speculative industrial building at Phoenix-Mesa Gateway Airport. Dale Cavan’s Cavan Commercial has reached a land lease deal with the East Valley airport to develop 7.5 acres at Sossaman Road and Velocity Way. Cavan wants to build 100,000 square feet of industrial space on the airport parcel. “We are excited to expand into this rapidly growing submarket… Read more »
Arizona’s stature in international trade is taking a giant leap forward thanks to the more than decade-long, behind-the-scenes efforts to promote more efficient and effective commerce. The Greater Nogales Santa Cruz County Port Authority will join federal partners to celebrate a bi-national ribbon cutting ceremony in Nogales on Oct. 15 to mark the $244 million completion of the Mariposa Land Port of Entry reconfiguration project…. Read more »