Commercial Real Estate & Business News – September 3, 2015

‘If you liked 2015, you’ll like 2016’: Why the Phoenix economy can expect more of the same

While there was no consensus on when the Federal Reserve might raise interest rates, 2016 may end up being more of the same for the Phoenix economy. “If you liked 2015, you?ll like 2016,” said local economist Elliott Pollack, CEO of Scottsdale-based Elliott D. Pollack & Co… Read more »

Phoenix Ties San Francisco for Best High-Tech Job Growth

In terms of percentage growth, Phoenix had a higher rate than the likes of Austin (33 percent), Silicon Valley (27 percent), New York (22.6 percent) and Seattle (18.3 percent)… Read more »

Land Purchased for Planned Optima Kierland Project

Six and a half acres at the northwest corner of Scottsdale Road and Kierland Boulevard sold to Optima Real Estate on Monday for just over $17 million, or $61 per square foot of land. The Optima Kierland project is planned to be built at this location, consisting of 796-unit multifamily, 234-room hotel, and a 1,444-space three-story underground parking garage. This will replace the 111,200 square foot retail showroom currently occupied by Ladlow’s Fine Furniture… Read more »

Wood Breaks Ground on Alta Fillmore in Downtown Phoenix

Wood Partners, LLC has broken ground on Alta Fillmore, a 4.1-acre multifamily community located on Fillmore Street in the heart of downtown Phoenix that will offer 230 units with superior amenities and high-end finishes in the middle of an incredible array of walkable amenities and employment opportunities. Leasing is expected to begin in the third quarter of 2016, and Wood Partners expects the project to be completed by the first quarter of 2017… Read more »

Canadian Investors Purchase 240-Unit Apartments at Priest and Broadway

North Vancouver investors Western Wealth Capital purchased the 240-unit Anzio Apartments on Friday for $19.5 million, or $81,250 per unit. The apartment complex is located at the northeast corner of Priest and Broadway, just over a mile southwest of the ASU Tempe Campus and just a short drive from the I-10 freeway. Its unit mix includes one and two-bedroom floorplans in thirteen two and three-story buildings built 1971. A $15.5 million Freddie Mac loan was recorded with the sale… Read more »