Commercial Real Estate & Business News – September 6, 2016

The Phoenix City Council is slated to vote on $18 million worth of tax breaks and other incentives and a potential $18 million sale of the empty Block 23 parcel in downtown Phoenix to RED Development. RED – which developed the Cityscape project next door – wants to bring 150,000 square feet of offices, 300 apartments and restaurants to the property. …»
In recent quarterly earnings periods, full-price retailers such as department stores and specialty retailers have been the companies to report weaker sales, revised annual guidance figures and planned store closures. Their reports underscored the challenges facing the retail sector impacted by an omni-channel revenue model. …»

A venture formed by Bixby Bridge Capital and a company including Dolphin Partners and Quantum Capital paid $80 million ($7,453 per acre blended average) to buy 10,734 acres in Buckeye that is approved for 41,000 + homes in a community called Tartesso. The sprawling acreage is comprised of numerous parcels located north of Interstate 10 along both sides of Sun Valley Parkway. …»

There’s a little bit of Jurassic Park inside the new 2 million-gallon OdySea Aquarium near Scottsdale, which opened its doors to the public for the first time Saturdaymorning. Along with the aquarium’s 50 exhibits and 30,000 marine animals, officials unveiled an attraction kept secret until the grand opening…»
Tempe officials have begun negotiations with a development team to build a biomedical campus that will employ 4,000 people. A few months ago, Tempe issued a Request for Qualifications, with four proposals submitted.…»