Commercial Real Estate & Business News – January 21, 2021
CRE Investors May Have Missed the Window for DistressIn the last downturn, some CRE investors were able to scoop up distressed assets by this point in the cycle. But so far, those conditions haven’t materialized in the Covid-19 crisis, according to Real Capital Analytics. The Global Financial Crisis started in December…» Which CRE Sectors Are […]
Commercial Real Estate & Business News – January 20, 2021
San Diego Investor Kicks Off 2021 in Valley With Largest Apartment Buy of the YearSan Diego-based MG Properties Group plunked down $145.25 million for a 576-unit apartment community in Phoenix — the biggest multifamily acquisition of the year so far. Paul Kaseburg, chief investment officer for MG Properties Group, said he’s not done yet. “We […]
Commercial Real Estate & Business News – January 19, 2021
Tempe Approves Mixed-use Project Planned for Macayo’s SiteThe Tempe City Council unanimously gave approval to a plan by Phoenix-based Red Development to redevelop the Tempe Macayo’s Depot Cantina site into a mixed-use development, which also will preserve and restore the train depot on the site. Red Development is planning to build a 17-story office…» Bank […]
Commercial Real Estate & Business News – January 15, 2021
Store Closures Lift Phoenix’s Vacancy Rate, But Some Retailers Are ExpandingPhoenix’s retail leasing volume fell to a historic low last year, and numerous retailers shuttered their doors as they were unable to withstand the challenges created by the coronavirus pandemic. But not all segments of the retail market suffered, and its recovery depends on an […]
Commercial Real Estate & Business News – January 14, 2021
National US Rental Demand Closes Out Year at Strongest Level Since 2000The United States ended the year with the best fourth quarter for apartment demand in two decades with large Sun Belt cities driving the most traffic, though some high-priced coastal markets hit hard by the coronavirus pandemic initially now appear to be rounding the […]
Commercial Real Estate & Business News – January 13, 2021
Andante Apartments in Ahwatukee Sold for $145.25MIn the largest multifamily sale in over two years, the Andante Apartments in Ahwatukee were sold for $145.25 million, or $252,170 per unit. According to the commercial real estate tracking website Vizzda.com, the last multifamily transaction this large was the $142 million…» Proposed Downtown Phoenix Mixed-use Tower Would Incorporate […]