Commercial Real Estate & Business News – September 24, 2015

The Federal Reserve’s decision at its Sept. 17 meeting to keep interest rates unchanged has done little to alter the favorable long-term outlook for the United States’ commercial real estate sector, according to market observers. Steve Rado, a principal at EY and leader of the firm’s U.S. real estate mergers and acquisitions (M&A) advisory practice, said most long-term real estate investors will continue to favor the asset class… Read more »
Sales of single-family homes and condominiums in August hit an eight-year high nationally, and some cities are on pace to see their best sales numbers in a decade, according to RealtyTrac’s August 2015 U.S. Home Sales Report. International cash buyers and FHA loans fuel double-digit percentage spikes in sales of single-family homes and condos in some cities… Read more »
Wells Fargo wants to bring mid-rise towers to its massive campus in Chandler’s Price Road Corridor, with buildings up to 13 stories high. The nearly 50-acre campus sits within Chandler’s Price Road Corridor, also home to Intel Corp., Orbital ATK and PayPal… Read more »
It cost another $50 + million, but Menlo Equities LLC now owns all 383,509 sq. ft. of office space that comprises the four-building Thistle Landing business park located near 48th Street and Ray Road in Phoenix. Menlo Equities cornered the market on the South Valley office complex by paying $51.25 million ($181.41 to acquire 282,503 sq. ft. in three buildings within Thistle Landing… Read more »
Deco Communities has broken ground on Inspire Downtown Scottsdale, a $42 million luxury condo development in Scottsdale. The project will offer contemporary-styled residences starting at $299,000. “Our philosophy is that ‘rent’ is a four-letter word,” Rob Lyles, a partner with Deco Communities, said. “We strive to deliver housing that allows buyers to take ownership, not just in owning their own home, but also in the community around them.”Read more »