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Commercial Real Estate & Business News September 5, 2019

Elite Football Programs Translate to Lower Cap Rates on Student Housing Acquisitions Elite college football programs drive more investment into student housing assets at universities associated with those programs, according to several industry sources. “There definitely is a direct parallel between the two. Enrollment typically continues to grow at universities with winning football programs,” says Sean Baird, director of the…»

The Fillmore in Downtown Phoenix Begins Construction
High Street Residential, the residential subsidiary of Trammell Crow Company, and its joint venture partner, a fund sponsored by CBRE Global Investors, have commenced construction on the first phase of The Fillmore, a mixed-use multifamily project located in downtown Phoenix. Phase I, which sits on 2.8 acres, is located at the Southeast corner…»

With Rising Construction Costs, Office Development Might Slow Down
Office construction was at a cycle high at mid-year 2019, despite rising construction costs, according to a second quarter office report from real estate services firm Transwestern. Over the last year, construction starts rose by 10.3 percent, bringing the total of new office space underway to 163.6 million sq. ft. This level of new development,…»

Does Future of Arizona Economy Hinge on In-State Students?
Arizona State University President Michael Crow has the vision to take Arizona higher and it means investing more in homegrown students – particularly Hispanics. The state’s economy relies on it, Crow told a dining hall packed with 320 real estate and other professionals and civic leaders at the sold-out Valley Partnership breakfast…»

California Homebuilder Set to Build Another West Valley Master-Planned Community
William Lyon Homes is a step closer to starting construction on a $40 million master-planned community in the West Valley. The Newport Beach, California-based homebuilder is in escrow to purchase 163 acres at the southwest corner of Indian School Road and 99th Avenue in Avondale. “We’re hoping to close by the end of the year or…»