Commercial Real Estate & Business News – September 25, 2020

5 Valley Cities Among Top 25 Real Estate Markets in U.S.
Gilbert resident Nadia Saco bought the home of her dreams this August. But landing it, she said, was a “nightmare” in the current real estate market. Saco, 32, and her husband, who spent a year and a half looking for a larger home for their growing family, were outbid on two houses before finally winning…»
Keystone Plans 224-Acre Innovation Centre MXU in Goodyear
New York-based Keystone Equities LLC plans to develop Innovation Centre, a nearly 224-acre master-planned community in Goodyear. The company is seeking to rezone a vacant site at Interstate 10 and Loop 303 to accommodate mix of uses. The proposed plan calls for three separate districts. The Commerce…»
The Praedium Group Acquires 385-Unit Liv North Valley Apartment Community in Phoenix’s Fast-Growing North Valley Market
PHOENIX, AZ – The Praedium Group, a New York-based national real estate investment firm, announced the acquisition of Liv North Valley in Phoenix, AZ, which is in the process of being rebranded as Nova North Valley.  Peter Calatozzo, Principal of The Praedium Group, announced the investment firm’s most recent…»
Net Lease Velocity Flattened In August
On July 15, the extension deadline for 1031 Exchange investors to choose on their replacement assets passed. With the deadline in the rearview mirror, single-tenant net-leased (STNL) asset sale velocity flattened in August 2020, according to The August 2020 NNN Market Intelligence Report Chris Pappas, associate…»
Phoenix Approves Controversial Tax Incentive for Proposed Downtown Tower
Phoenix City Council approved a controversial tax abatement for a developer in downtown Phoenix – the first since the city lost a lawsuit over the incentive relating to another high-rise in downtown. On Sept.16, the city approved a Government Property Lease Excise Tax, or GPLET, transaction for the development…»