Commercial Real Estate & Business News November 19, 2019
Sam Fox Hotel Project Heads to Phoenix City Council for Approval Phoenix City Council is set to decide this week the fate of a mixed-use project that will include a hotel developed by popular Valley restaurateur Sam Fox. A 17-acre project, known as 44|Camelback, would be on the northwest corner of 44th Street and Camelback Road. […]
Commercial Real Estate & Business News November 15, 2019
LivCor Pays $43M for Phoenix Asset In a $43 million deal, the P.B. Bell Cos. has sold Solis at Towne Center, a 240-unit Class A community near Phoenix, according to Yardi Matrix. LivCor, the buyer, assumed the outstanding balance of a $20.2 million loan from Allstate taken by the seller in 2016. The mortgage matures in […]
Commercial Real Estate & Business News November 14, 2019
Exclusive Research: Light at the End of the Tunnel? In a seemingly interminable procession, one venerable retail chain after another shuts down stores, restructures under bankruptcy protection or closes shop entirely. (In some cases, it’s been all of the above.) Retail real estate owners and managers have struggled to cope. They scramble to restructure leases or […]
Commercial Real Estate & Business News November 13, 2019
This Year Could Break a Record for Multifamily Sales Volume Despite concerns about potentially slowing economic growth and new rent control laws around the country, investors continue to go after apartment properties. The volume of U.S. multifamily acquisitions in the first nine months of 2019 was higher than during any other comparable period since this expansion […]
Commercial Real Estate & Business News November 12, 2019
Arizona Ranked No. 1 Inbound State in the Nation A recent American Enterprise Institute (AEI) comparison ranked Arizona the number one inbound state in the nation. The inbound-outbound ranking is determined by the percentage of people moving to the state versus those leaving in 2018 based on Census Bureau data. The comparison also reviewed indicators related […]
Commercial Real Estate & Business News November 8, 2019
Low U.S. Interest Rates Are Fueling a Bubble in Commercial Real Estate At their October meeting, Federal Reserve officials once again cut interest rates. The central benchmark rate fell from 1.75 percent to 1.50 percent. The 180-degree interest rate turn continues. It seems like a lifetime, but only a year ago, the Fed indicated rates would […]