Commercial Real Estate & Business News – March 23, 2016
New Look, Expansion Planned for Scottsdale Promenade One of Scottsdale’s best-known shopping centers could get a fresh look and about a dozen new shops in a proposed redevelopment project recently filed to the city’s Development Review Board. Scottsdale Promenade, at the southeastern corner of Scottsdale Road and Frank Lloyd Wright Boulevard, opened more than a […]
Commercial Real Estate & Business News – March 22, 2016
Demand Continues From California Investors Chasing Yield The Metro’s returns are typically higher than competing markets in California, hence more demand from the California investor as they continue to chase yield. A number of service-oriented transactions involving tenants with triple-net leases have closed around the Metro. One such deal is a store fully leased to […]
Commercial Real Estate & Business News – March 21, 2016
America’s Fastest-Growing Cities 2016 – Phoenix Ranks in the Top 15 To compile our list of America’s Fastest-Growing Cities, we ranked America’s 100 most populous metropolitan statistical areas (cities and their surrounding suburbs, as defined by the U.S. Office of Management and Budget) based on six metrics weighted equally. Using data from Moody’s Analytics, we […]
Commercial Real Estate & Business News – March 18, 2016
No Change for Interest Rates—Yet As expected, the Federal Open Market Committee decided not to adjust interest rates during its latest meeting this week. The central bank cited uneven growth. “Economic activity has been expanding at a moderate pace despite the global economic and financial developments of recent months,” it noted in a statement. “Household […]
Commercial Real Estate & Business News – March 17, 2016
Happy St. Patty’s Day! Builders Keep Building Apartments, Renters Keep Renting Them Renters are snagging newly constructed units at a record pace according to Zillow economist Aaron Terrazas. Based on data from the Census Bureau’s Survey of Market Absorption of New Multifamily Units (SOMA), almost 100,000 new apartments came online nationwide in Q3 2015, and […]
Commercial Real Estate & Business News – March 16, 2016
Fairmont Scottsdale Princess Sold to China’s Anbang as Part of $6.5 Billion Deal New York private equity firm Blackstone Group is selling the Fairmont Scottsdale Princess as part of a $6.5 billion deal to sell Strategic Hotels and Resorts Inc. to Chinese company Anbang Insurance Group. The Fairmont is currently undergoing a $60 million renovation… […]
