Commercial Real Estate & Business News – September 8, 2017

Just about every city and their sister is throwing their hat in the ring for Inc.’s second headquarters. Amazon (Nasdaq: AMZN) has issued a request for proposals for the $5 billion, 8 million-square-foot and 50,000 worker project to go along with the company’s Seattle base. Phoenix economic developers say the region has a case to make to Amazon CEO Jeff Bezos…»
Investment sales volume continued to fall in July, the most recent month for which data is available, as property prices rose, according to recently released data. The U.S. Capital Trends report from Real Capital Analytics (RCA), a New York City-based research company, showed that total deal volume for the month came in at $26.5 billion- down 28 percent year-over-year. Meanwhile, the RCA all-property commercial property price index (CPPI) rose 1.2 percent…»
Phoenix’s data center market is growing stronger as new providers come to the metro area and current providers continue to expand. JLL’s recently released North American Data Center Outlook report, which takes a bi-annual look at the major data center markets, shows Phoenix has almost 38 megawatts of new product under construction. Phoenix ranked sixth among the top data center markets, and continues to rise…»
An Element hotel will occupy the southwestern corner of the SkySong, The ASU Scottsdale Innovation Center complex, the latest addition to the 42-acre technology and innovation hub. The Marriott-brand hotel is critical for than 50 businesses that are currently located on the south Scottsdale site. The 148-room hotel is planned for the southwestern corner of the SkySong complex, near Scottsdale Road and Enterprise Drive…»
WA-based developer and investment company Weidner Property Management LLC acquired The Lofts at Rio Salado apartments at 1033 N. Parkside Dr. in Tempe, AZ for $75.5 million, or about $162,000 per unit, from JP Morgan Chase & Co. Investment Management. The 467-unit, 463,848-square-foot multifamily complex delivered in 2006 on 12.1 acres in the North Tempe Multifamily submarket of Maricopa County…»