March 7, 2018

More Apartment Landlords Offer Free Rent to Lure Tenants

By |2018-03-07T16:27:24-07:00March 7th, 2018|

Originally Posted on National Real Estate Investor March 6, 2018 MULTIFAMILY More Apartment Landlords Offer Free Rent to Lure Tenants Property managers offered free rent to attract residents at roughly one-third (30.0 percent to 35.0 percent) of apartments in cities including Las Vegas, San Antonio and New York. Bendix Anderson | Mar 06, [...]

March 7, 2018

US Builders Optimistic Amid Early Signs of Construction Slowdown

By |2018-03-07T16:22:38-07:00March 7th, 2018|

Originally Posted on CoStar March 5, 2018 Apt/Condo Construction Rebounds Sharply in January; Office, Hotel and Warehouse Construction Declines 15% Pasternack Properties broke ground on the 1.1 million-square-foot Warehouse 1 in the TEN Distribution Center industrial park in Phoenix, the first of six buildings planned for the $300 million, 3.6 million-square-foot [...]

February 28, 2018

Maricopa Integrated Health System to pay $59M to buy Maryvale hospital

By |2018-02-28T19:57:24-07:00February 28th, 2018|

  Originally posted on Phoenix Business Journal on February 28, 2018 Maricopa Integrated Health System plans to pay $59 million to buy Abrazo Maryvale Campus from Dallas-based Tenet Healthcare Corp. (NYSE: THC), which closed the West Valley hospital last year. The hospital closure left 300 employees looking for new jobs. Plans [...]

February 28, 2018

Multifamily Rental Rates on the Rise in Greater Phoenix

By |2018-02-28T19:53:10-07:00February 28th, 2018|

Originally posted on Commercial Executive February 26, 2018 Demand for Apartments Keeping Pace with New Construction Phoenix – Rental rates are on the rise in the Greater Phoenix multifamily market, according to a report released by Colliers International in Greater Phoenix.  Rates ticked higher as demand for apartments keeps pace with the [...]

February 28, 2018

Again The Fed Says CRE Valuations Are Inflated

By |2018-02-28T19:50:05-07:00February 28th, 2018|

Originally posted on GlobeSt February 27, 2018 High valuations have also created a gap between buyer and seller expectations on pricing. The Federal Reserve Bank in Washington DC WASHINGTON, DC–The Federal Reserve has said on a number of occasions that asset valuations, including in the commercial real estate sector, are inflated. [...]

February 22, 2018

Milwaukee Brewers unveil details of Maryvale Baseball Park renovation, expansion

By |2018-02-22T10:39:14-07:00February 22nd, 2018|

Originally posted by Phoenix Business Journal February 21, 2018 Milwaukee Brewers unveil details of Maryvale Baseball Park renovation, expansion VIEW SLIDESHOW By Rich Kirchen  – Senior Reporter, Milwaukee Business Journal Feb 21, 2018, 5:15pm The Milwaukee Brewers released details of their $56 million to $60 million investment in renovating and expanding of their spring [...]

February 22, 2018

Ritz-Carlton finally breaks ground on Paradise Valley resort

By |2018-02-22T10:29:56-07:00February 22nd, 2018|

Origianally posted on AZCentral February 21, 2018 Ritz-Carlton finally breaks ground on Paradise Valley resort Ritz-Carlton, Paradise Valley breaks ground An artist's rendering of the hotel lounge at the new Ritz-Carlton Resort in Paradise Valley. Dawn Gilbertson, The Republic | azcentral.comPublished 4:44 p.m. MT Feb. 20, 2018 | Updated 5:28 p.m. MT [...]

February 22, 2018

Phoenix sees major rejuvenation ‘between the Sevens’

By |2018-02-22T10:27:28-07:00February 22nd, 2018|

Orinally posted by AZBigMedia on February 22, 2018 Phoenix sees major rejuvenation ‘between the Sevens’ Above: Known as the Link, it was designed to strengthen Park Central's presence and brand. (Renderings courtesy of Plaza Companies)REAL ESTATE | yesterday | DAVID MCGLOTHLIN Some of Phoenix’s most desirable neighborhoods to live can be found in an [...]

February 14, 2018

EXCLUSIVE: 6 trends in 2018 that will impact tech real estate decisions in the Valley

By |2018-02-14T15:43:06-07:00February 14th, 2018|

Originally posted in Phoenix Business Journal February 14, 2018 Enlarge Six national real estate trends for 2018 mirror what's happening in the Phoenix metro area, according to JLL. VITANOVSKI JLL has identified six trends that will impact tech companies' real estate decisions in 2018, according to the latest JLL Tech Office Insight [...]

February 14, 2018

Two well-known Arizona business names team on new multifamily development

By |2018-02-14T15:18:50-07:00February 14th, 2018|

Originally posted by Phoenix Business Journal February 14, 2018 Enlarge The Noria complex is opening in Chandler By Mike Sunnucks  –  Senior Reporter, Phoenix Business Journal Robson Communities — a well-known Arizona business brand that traditionally specializes in active adult developments — has entered the multifamily real estate segment with a new apartment complex in [...]

February 14, 2018

What’s happening in the rebranded PHX East Valley?

By |2018-02-14T13:21:14-07:00February 14th, 2018|

Originally posted by AZ Big Media on February 6, 2018 What’s happening in the rebranded PHX East Valley? REAL ESTATE | 12 Feb | DAVID MCGLOTHLIN The Phoenix Metropolitan Area makes up the central part of Arizona, totaling over 9,000-square-miles. Also referred to as Greater Phoenix, this region includes both East and West Valley [...]

February 7, 2018

Co+Hoots co-working space to set anchor $59M downtown Mesa Development

By |2018-02-07T16:37:08-07:00February 7th, 2018|

Originally posted by the Arizona Republic on February 6, 2018 A $59 million mixed-use development planned for downtown Mesa has its first tenant — and you could say they're in cahoots with each other. Er, Co+Hoots, we mean. Co+Hoots, a Phoenix-based co-working space, will be the anchor tenant in a massive development called the Grid, [...]

February 7, 2018

PHX East Valley | The Fastest Growing Area in the U.S

By |2018-02-07T16:58:11-07:00February 7th, 2018|

The Kasten Long Commercial Group (KLCG), the Arizona Multihousing Association (AMA) and the East Valley Partnership (EVP) held an event at the Mesa Arts Center on Wednesday, January 31, highlighting the new branding of the East Valley, now referred to as “PHX East Valley”.   The speakers suggested that with the overall [...]

February 7, 2018

Big fight pits Legislature vs. universities over real estate deals, tax breaks

By |2018-02-07T15:24:34-07:00February 7th, 2018|

Originally Posted by Phoenix Business Journal February 2, 2018 By Mike Sunnucks  –  Senior Reporter, Phoenix Business Journal Feb 2, 2018, 12:00am A bill making its way through the Arizona Legislature puts restrictions on real estate deals crafted by state universities. It sets up another big political fight between the Republican Legislature and state [...]

February 7, 2018

New High-rise Residential Tower in Downtown Phoenix Fillmore District

By |2018-02-07T13:23:23-07:00February 7th, 2018|

Originally posted on Commercial Executive February 2, 2018 The Fillmore District in Downtown Phoenix continues to experience revitalization and significant new development.  Aspirant Development has purchased 1.2 acres fronting on the north side of Fillmore Street between 2nd Avenue and 3rd Avenue.  The property was purchased from The Fillmore Group, LLC, a Los Angeles/Hong Kong based [...]

January 17, 2018

Value-Add Opportunities in the Multifamily Sector Getting Harder to Find

By |2018-01-17T15:58:18-07:00January 17th, 2018|

Originally posted on National Real Estate Investor January 15, 2018 MULTIFAMILY Value-Add Opportunities in the Multifamily Sector Getting Harder to Find The challenge is finding properties that have not already been renovated. Bendix Anderson | Jan 09, 2018 Investors are still looking for apartment properties that can be renovated to earn more rental income. But properties [...]

January 17, 2018

No Joke. It Really Is Different This Time … Right?

By |2018-01-17T15:34:01-07:00January 17th, 2018|

Originally posted on Commercial Property Executive January 15, 2018 Today, eight years into a slow-moving recovery in which commercial real estate has outperformed most every other investment class, the discussion is moving from whether the sector is overdue for a correction to how long the recovery will run and whether the [...]

January 17, 2018

Apple says it plans to build a new U.S. Corporate campus, create 20,000 jobs

By |2018-01-17T15:20:34-07:00January 17th, 2018|

Originally posted on Phoenix Business Journal January 17, 2018 Enlarge Tim Cook, chief executive officer of Apple Inc., speaks during the 2017 Apple Worldwide Developers Conference in San Jose on June 5, 2017. DAVID PAUL MORRIS | BLOOMBERG Apple is gearing up to build another corporate campus in a yet-to-be-announced American [...]

January 10, 2018

Yardi: Rents on Track for 2018 Growth, Occupancy Projected to Fall

By |2018-01-10T15:40:46-07:00January 10th, 2018|

Originally posted on Multifamily Executive January 9, 2018 Rents grew 2.5% in 2017, which, although solid, represents the smallest annual increase since 2010, when rents fell 0.4%, according to Yardi Matrix. Since then, rents had grown by at least 3.3% every year, peaking at 5.4% in 2015 and declining to 3.4% [...]