Commercial Real Estate & Business News – September 29, 2016

Located on the Northwest Corner of the Loop 101 and Via de Ventura on the Salt River Pima Maricopa Indian Community, Pima Center is one of North Scottsdale’s largest and most successful mixed-use business parks with 1.4 million square feet already developed…»
Commercial nonresidential real estate debt outstanding increased 5.4% in the past year and is just $14.4 billion shy of the last peak in 2008, according to the latest data from the Federal Reserve for the second quarter. …»
One of downtown Phoenix’s newest apartment developments has sold for $21.8 million. Proxy 333 just opened this summer at Third and McKinley streets. The infill, urban-oriented apartment building was developed by Scottsdale developer Dan Tilton’s Tilton Development Co…»

Los Angeles-based shopping center owner and operator Westwood Financial Corp. obtained $210 million in first lien financing for a portfolio of 10 shopping centers that total 973,985 square feet across Arizona, California, Kansas, North Carolina and Texas. …»

Considerable press has been given lately to high-profile real estate acquisitions made by foreign investors, particularly those from China. China Life Insurance Group Co. recently purchased a $1.65 billion Manhattan office tower on Sixth Avenue; Anbang Insurance Group Co. bought Manhattan’s Waldorf-Astoria…»