Commercial Real Estate & Business News – September 15, 2020
3,500 Acres in North Phoenix Could be Transformed into Major Employment CorridorThe city of Phoenix and the Arizona State Land Department are aiming to reposition 3,500 acres of desert in north Phoenix for a major future employment corridor that would include a tech campus and mixed-use components. “So much of the state land up north […]
Commercial Real Estate & Business News – September 14, 2020
Axon Buys 73.57 Acres in Scottsdale for $49.1MAxon Enterprise, Inc., was the successful bidder during a public auction of State Trust land at the southeast corner of Hayden Road and Loop 101 in Scottsdale. The 73.57-acre parcel’s final bid price was $49.1million. Axon has been headquartered in Scottsdale since…» Banyan Residential Breaks Ground on Phoenix […]
Commercial Real Estate & Business News – September 11, 2020
#Neverforget Mammoth Mesa Sports Complex No Pipedream, Developer PromisesRandy and Chad Miller have a big sports and entertainment dream for southeast Mesa near Phoenix-Mesa Gateway Airport. At 320 acres, that dream is expansive – but Chad Miller insists it’s not fanciful. It includes two stadiums, 23 soccer fields, eight baseball and softball fields, and an […]
Commercial Real Estate & Business News – September 10, 2020
California Investors Drive Transaction Volumes in ArizonaCalifornia investors are driving transaction volumes in Arizona during the pandemic. California investors typically account for 30% to 40% of transaction volumes in the market, but recently, that number has increased to 50%. While the pandemic has impacted all markets, California investors…» Arizona’s 30-year Outlook: Short-run Trouble, Long-run GrowthThere […]
Commercial Real Estate & Business News – September 9, 2020
Bound for a Rebound? The Future of Multifamily HousingFor 10 years, the multifamily sector has enjoyed consistent growth. Often heralded as the “smart investment” of the real estate industry, research cited by CBRE in 2018 reveals that when compared with hotel, industrial, office, and retail spaces, multifamily has the highest average annual return while…» Self […]
Commercial Real Estate & Business News – September 8, 2020
Why People Are Buying and Selling Right NowWhen a client asked me to underwrite their apartment building in the early days of the pandemic, I told them it would be an exercise in futility, since at that time, there was quite literally, no market. In late March and April, the entire marketplace became virtually nonexistent, […]