Commercial Real Estate & Business News – September 5, 2017

Nearly two decades after they first broke ground at Agritopia – the agrarian masterplanned community in the heart of Gilbert – the family behind the ambitious project announced plans to build Epicenter, Agritopia’s commercial hub that will be the final major development built in the district. The project will feature a 287-unit apartment community along with over 55,000 square feet of space for retail and restaurants on the first floor.…»
About one out of three people trying to rent an apartment in Scottsdale are told they can’t move in. Metro Phoenix’s high-end suburb leads the nation for the highest rate of rental applications rejected by apartment owners, according to a new national survey from Yardi’s RENTCafe. Slightly more than 29 percent of people trying to rent in…»
Glendale could annex the largest piece of land since it took in Luke Air Force Base in 1995. Woolf Logistics, a 1,340-acre parcel owned by rose-farm mogul Leyton Woolf, could find itself within the city’s boundaries before the end of the year. The property now sits in an unincorporated area of Maricopa County. Glendale Planning Director Jon…»
A total of 43 million Americans were renters in 2016, and of that number 47.7% were cost-burdened, according to the U.S. Census Bureau’s 2015 American Community Survey, meaning these consumers spend more than 30% of their income on housing. In Renter Cost Burdens by Generation, ABODO examines the generational spread of housing cost burdens, from millennial renters just beginning their professional lives to the growing number of baby boomers downsizing…»
Biltmore Center, located at the northwest corner of Camelback Road and 24th Street, has undergone an award-winning renaissance since being acquired by ViaWest Group. The most recent addition is a signature sculpture by local artist Brad Konick as a focal point of the development’s core. “We evaluated our main traffic circle and realized its visibility and activity level commanded attention,” says Steven Schwarz, founding partner of ViaWest Group. …»