Commercial Real Estate & Business News February 15, 2019
$2 Billion Palmeraie Project Breaks Ground in ScottsdaleFive Star Development broke ground for the first phase of a master-plan community called The Palmeraie on Wed. Feb. 13. The 122-acre community is on the border of Scottsdale and Paradise Valley. The first phase of the $2 billion community will be completed by the end of 2020. […]
Commercial Real Estate & Business News February 14, 2019
CRE Lenders Ended 2018 on a Strong NoteA strong fourth quarter lifted commercial mortgage originations by 3 percent in 2018 as multifamily and industrial originations drove investor activity, according to preliminary estimates from the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The MBA released its…» Yardi: National Rent Remains Flat, YOY Growth […]
Commercial Real Estate & Business News February 13, 2019
Two Scottsdale Malls See Huge Sales Increases, Parent Company’s Filing ShowsTwo of Scottsdale’s most prominent shopping destinations, Scottsdale Fashion Square and Kierland Commons saw retail sales increase dramatically from 2017 to 2018, according to documents filed Thursday with the U.S. Securities and Exchange commission. The Macerich Co. (NYSE: MAC), a Santa Monica, California-based real estate […]
Commercial Real Estate & Business News February 12, 2019
Gilbert’s New Mission is to be the ‘City of the Future’Gilbert, Arizona has unveiled its new mission: “Anticipate. Create. Help people.” As Gilbert approaches its 100thbirthday in 2020, the new mission statement is focused on keeping the thriving community that Gilbert is today well into the future. “The people are here, the businesses are coming, […]
Commercial Real Estate & Business News February 11, 2019
Scottsdale Multifamily Investor to Build $16.9M Project in South PhoenixA Scottsdale multifamily investor has purchased some vacant infill land in south Phoenix to build its own project, looking to ride the popularity of single-family hybrid rental communities. Avenue North LLC paid $2.05 million cash for 6.7 acres at the northwest corner of 16th Street and […]
Commercial Real Estate & Business News February 8, 2019
Big Desert Ridge Project Gets Green Light in PhoenixDeveloper Crown Realty & Development has acquired the master developer rights for 96.5 acres of land in the Desert Ridge area of Phoenix. The land site had been the subject of more than a decade of litigation over land rights and bankruptcy. Now that the litigation has […]