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Commercial Real Estate & Business News September 25, 2019

Foreign Investors Ramp Up Multifamily Acquisitions Foreign investors continue to spend money on apartment properties in the U.S., even while they may be slowing down on purchases of assets in other sectors. In the second quarter, cross-border investors became net sellers of U.S. commercial real estate overall for the first time in seven years, according to Jim Costello, senior vice president with research firm Real Capital Analytics (RCA). But “we are not seeing any…»
Mesa Ranked One of the Best-Run Cities in America
The city of Mesa, known for its aerospace industry, tech corridor, and emerging innovation district, is among the “best-run” cities in America, according to a new in-depth analysis by online personal finance giant, WalletHub. Mesa ranked in the top 10 percent overall, largely due to their spending per capita. Phoenix and Tucson also shine in the study, ranking in the top…»
Work Underway on Creighton University’s Midtown Phoenix Medical School
Now that Creighton University is moving dirt on its $100 million medical school at Park Central Mall in midtown Phoenix, other pieces of the development are falling into place. The new campus will make Nebraska-based Creighton the largest Catholic medical school in the nation, said Sharon Harper, CEO of Peoria-based real estate firm Plaza Cos.Plaza Cos. is working with…»
Seattle Investor Buys The Rev Apartments in Phoenix’s Tempe Submarket
Security Properties has purchased The Rev apartments in Tempe, Arizona, from Denver-based Baron Properties for $28.2 million, or about $164,000 per unit. Headquartered in Seattle, the national real estate investment, development and operating company now owns 122 multifamily properties totaling approximately 24,000 units across its portfolio, which includes eight…»
Macy’s and UPS Hiring 5,600 Total in Goodyear for Holiday Rush
Macy’s and UPS Inc. are hiring 5,600 full-time, part-time and seasonal jobs for the holiday rush at a pair of Goodyear facilities. Macy’s is hiring 4,600 and UPS is hiring 1,000.It’s unclear how many of the Macy’s jobs will be full-time, part-time or seasonal. Company spokeswoman Emily Workman said she doesn’t have a breakdown. The Macy’s fulfillment center, off Commerce Drive and…»