Commercial Real Estate & Business News February 5, 2019
Jobs, Demand Drive US Office DevelopmentStrong demand for space-underpinned by healthy growth among office-using industries-keeps the U.S. office market’s performance steady, according to a survey of 115 markets conducted by Yardi Matrix. In 2018, business professional and technical services led expansion with the addition of 286,000 jobs, followed by strong growth in…» New Apartments Expected […]
Commercial Real Estate & Business News February 4, 2019
Competition Heats Up as More Builders Shift to Affordable Homes in ValleyCompetition is going to get hot and heavy in 2019 among homebuilders in the Valley, as they duke it out for a piece of the affordable housing market. More homebuilders are making a concerted effort to build for first-time homebuyers, shifting away from move-up […]
Commercial Real Estate & Business News February 1, 2019
How Many More Store Closures Are Expected in 2019?Despite headline-making store closings by Sears, Bon-Ton, Kmart,and others over the past few months, U.S. shopping center and mall owners have been working hard to hang on to tenants. However, they are likely gearing up for another challenging year as more store closures are anticipated in 2019. […]
Commercial Real Estate & Business News January 31, 2019
Phoenix Investments Mature at Record SpeedsInvestors aren’t only finding yields in the Phoenix market, but speed as well. Capital Square 1031, which specializes in Delaware statutory trust offerings, has brought a property full-cycle in record time and has achieved 131% return on equity and an 18% annualized return of equity. The firm sold Crossroads Apartments, […]
Commercial Real Estate & Business News January 30, 2019
Bankruptcy Court Ruling Opens Land Near Desert Ridge for DevelopmentCrown Realty & Development has closed on 96.5 acres of land near Desert Ridge Marketplace and acquired master developer rights to 5,700 acres, opening land that had been tied up in bankruptcy and litigation to development. The land previously was valued at $121 million. Irvine, California-based […]
Commercial Real Estate & Business News January 29, 2019
Phoenix’s First Mall, Park Central in Midtown, Finally Gets Much-Needed New Look and LifeMidtown Phoenix is no longer a canyon of far-from-full office towers built more than three decades ago. The area that businesses moved away from in the late 1990s is now drawing start-ups and big companies that want to be near light rail, […]