Commercial Real Estate & Business News September 17, 2019

Phoenix Emerges as Leading Market for Logistics Investment US gateway markets are no longer top targets for investment. According to a recent report from CBRE, there are plenty of industrial and logistics options outside of the gateway markets, and the report names the top 14, including Reno, Greenville-Spartanburg and Salt Lake City. Unsurprisingly, considering its recent run, Phoenix made the…»

Phoenix on Track to Receive the Highest Amount of Annual New Office Supply in Over a Decade
Large occupiers searching for quality space in the Phoenix metropolitan area have limited options, thanks to constrained new office supply and robust demand. And landlords are benefiting. Top-tier properties are leading all other segments in rent growth, with four- and five-star properties posting 5.7% annual rent gains in the second…»

Local Investor Buys Two Phoenix-Area Rentals
A local firm has spent nearly $145 million in recent weeks on two apartment complexes in greater Phoenix, which leads the nation in rent growth. Nasim Sikder, who runs a boutique investment shop out of Chandler, Arizona, closed on the 344-unit Summerly at Zanjero, in Glendale, and the 209-unit Novel Rio apartments in Tempe,…»

3-Pronged Temple-Area Project Rolls Along
Mesa residents will soon get a glimpse into what the Residences at Mesa and Main project will look like, now that crews have completed the core structure of a massive parking garage. The City Creek Reserve redevelopment project – timed to coincide with the massive renovation of the iconic Mesa Arizona Temple of the…»

Metro Phoenix’s Housing Market Looks a Lot Like 2004. Is a Boom and Bust Coming?
Rising home prices and bidding wars over affordable houses in metro Phoenix are stirring painful memories of the housing boom that led to the area’s biggest real estate crash beginning in 2008. For those who weren’t here or are still trying to forget the years from 2009 to 2011, a 50% jump in Valley home prices from 2005 to 2006   – fueled by…»