Daily News – February 13, 2020

Retail Landlords go Shopping for Bankrupt Chains Property executives are unlikely stewards of youthful clothing brands. But Forever 21 is to be subsumed by two of its largest landlords after retail specialists balked at the prospect of reviving the fortunes of the distressed fast-fashion…»

Triumph Properties Group Buys Deer Creek Village for $49.5M
Triumph Properties Group has acquired Deer Creek Village, a 308-unit apartment community located in Phoenix, Arizona. The $49,500,000 acquisition ($160,714 per unit) is Triumph’s first residential acquisition in the Phoenix market. Deer Creek was developed by Evans Withycombe Residential Inc…»

Squeezed Out: Arizona Needs at Least 100,000 More Affordable Homes Now
Arizona needs at least 100,000 apartments or houses that people living and working in the state can afford. And the homes are needed now. Last week, 400 people living in tents and sleeping bags around downtown Phoenix’s crowded Human Services Campus had…»

JLL Income Property Trust Acquires Two-Building Office Portfolio in Phoenix
JLL Income Property Trust, an institutionally managed daily NAV REIT, today announced the acquisition of Fountainhead Corporate Park, a 300,000 square foot, two-building Class A office portfolio comprised of two 6-story buildings located in the Phoenix, Arizona submarket…»

4th-Quarter Office Space Net Absorption Tops 1 Million SF in Phoenix
The Greater Phoenix office market experienced its best year since 2008, posting very strong net absorption and adding more than 3.4 million square feet of new office space to the inventory, according to a report from Colliers International.…»