Taiwan firm buys 97,000-square-foot Phoenix office park
A Taiwan-based construction firm that specializes in mechanical, electrical and plumbing services for computer chip makers bought a huge North Phoenix office property. The company, Transdien Engineering Co., acquired a 97,372 square-foot office park off the Loop 101 and 7th Street for $19,458,000 on April 15, according to real estate database Vizzda. It’s located at 19825 N. 7th Street, sits on 17.51 acres and was built in 2004. Transdien bought the building from 101 & 7th Street…»
Inside the Micro‑Cycles Driving Sun Belt Multifamily
Investors staring at Austin’s or Phoenix’s headline numbers this spring could be forgiven for walking away. On a metro‑wide basis, new‑lease rents in many Sun Belt markets are still drifting down and occupancies remain under pressure as the 2021–2024 construction wave finishes delivering. Yet drill a level deeper and a very different picture emerges: within the same “overbuilt” metros, the spread in performance between lifestyle and rent‑by‑necessity assets and between…»
Game-changing development projects in Casa Grande and Tonopah earn approvals
Two very different development projects in Arizona are moving forward this week, but they share a common blueprint for success: listening first, then building. Anita Verma-Lallian, founder and CEO of Arizona Land Consulting, secured regulatory approvals for a mixed-use commercial project in Casa Grande and a data center infrastructure development in Tonopah—both shaped significantly by community feedback. On April 6, the Casa Grande City Council approved a rezoning request…»
Residential Real Estate Roundup: Apache Junction home to ‘next wave’ of East Valley growth
Chicago-based 29th Street Capital held its grand opening April 15 for Verge, its 201-unit rental community at 1297 E. Broadway Ave. in Apache Junction. Monthly rental rates range between $1,554 and $2,325 for the 201-unit rental community, said Beric Wessely, director of lease-up operations for 29th Street Capital.”Apache Junction is really the next wave of growth in the East Valley,” Wessely said. “As Mesa and Queen Creek filled in, demand naturally pushed outward and this is where…»
CRE Finance Sentiment Reverses as Geopolitical Shock Erases Months of Gains
Commercial real estate finance sentiment took a sharp turn in the first quarter, as geopolitical turmoil tied to the Iran war wiped out months of improving outlook, even as underlying demand for capital and assets remains firm. The CRE Finance Council’s Board of Governors Sentiment Index fell 20.2% quarter-over-quarter to 100.1, down from 125.4 in the fourth quarter, erasing roughly three-quarters of gains and returning the index to its 4Q 2017 baseline. The decline was broad-based, with…»