Commercial Real Estate & Business News October 9, 2019

Fed Keeps Net Lease Cap Rates Low Asking cap rates for all property types-retail, industrial and office-in the single tenant net lease investment sector moved lower for the second consecutive quarter. In its Third Quarter 2019 Net Lease Market Report, The Boulder Group attributed this trend to a number of factors, including the Federal Reserve lowering…»
Bob Parsons’ YAM Properties Adds Norterra to Portfolio
YAM Properties LLC has officially added The Shops at Norterra to its growing portfolio of commercial real estate assets. The open-air lifestyle and shopping center is located in North Phoenix – off the I-17 and Happy Valley Rd. – and offers more than 50 options for dining, shopping and personal and professional services. Norterra…»
Trammell Crow Plans 356K-SF Industrial Park in Glendale
Trammell Crow Company (TCC) Phoenix and its partner, a fund sponsored by CBRE Global Investors, have unveiled plans for a new industrial project in Phoenix, known as Park Aldea. Located just west of the intersection of 99th Avenue and Cardinals Way (Bethany Home Road), the 356,000-square-foot development will span 27 acres and include four buildings, ranging in…»
Hotel Construction Begins at Downtown Arizona Center
A joint partnership between Dallas-based NewcrestImage and Las Vegas-based LaPour Partners has begun construction on a 199-room hotel at the Arizona Center. The hotel, an AC Hotel by Marriott, will cost about $50 million to build. It is part of the ongoing revitalization of the Arizona Center near Third and Van Buren streets in downtown Phoenix. The hotel is scheduled to be…»
Why Experts say Arizona is ‘One of the Best Markets in Multifamily Industry’
Positive job growth. Hundreds of new residents moving into the state each day. Sound fundamentals. Pent up demand for rental housing. Based on those facts, the projection for Arizona’s multifamily industry in 2020 is that it’s likely to experience another banner year, experts predicted at the 2019 AMA Perspectives & Projections industry outlook conference in September at…»