Rush to Place Capital Ahead of Election Expected
Source: RCM LightBox According to a new report, commercial real estate investors, brokers and lenders are expecting a potential surge of activity in Phoenix and other U.S. markets in the first half of 2020, ahead of the U.S. election. Participants in the 2020 RCM LightBox Investor Sentiment Report noted the strong market fundamentals, available investor capital, […]
Letter from the Publisher
I am thrilled to be able to note this monumental occasion – 10 years in business, 1,000 issues of the AZBEX Digital Magazine. I am grateful to Rachel Pratt, my Vice President of Operations, for being by my side since the beginning, and to the BEX staff who not only work hard every day, but […]
Multifamily Mixed-Use Develop. Proposed for Phoenix
By Tasha Anderson for AZBEX Dallas, Texas-based real estate development firm, Atticus Real Estate Services recently submitted plans to the City of Phoenix for a new multifamily mixed-use development to be located at the SWC of 16th and Colter Streets. The project, dubbed Willowick or 16th and Colter PUD, will provide “new housing and employment […]
Scottsdale Bond Priorities Emerge at City Hall
By Melissa Rosequist for Independent Newsmedia An outline of marching orders for the 58 approved bond projects is beginning to take shape at City Hall as Scottsdale officials define municipal priorities. During study session meeting Scottsdale city staff presented a timeline for the projects to be paid for by voter-approved funds. Last November, residents of […]
Investors Still Paying Top Dollar for Multifamily
By Erika Morphy for GlobeSt.com Multifamily acquisition yields and price per unit have hovered at record lows for several years. What does that mean for pricing? Yardi Matrix spells it out in its newest report on the asset class: It means investors are willing to pay up even as market conditions change. The average price […]
Industry Professionals 02-18-20
Giving Back 1. More than 350 kids received a little slice of Christmas thanks to donations to the 9th annual Santa’s Sak Program. A quick summary of this year’s outreach: Personally delivered Christmas to 70+ kids in 7 separate group homes across the valley Supported over 100 East African Refugee Children under the age of […]
Commercial Real Estate Transactions 02-18-20
Sales Transactions 1. JLL Income Property Trust announced the acquisition of Fountainhead Corporate Park, a 300KSF, two-building Class A office portfolio comprised of two 6-story buildings located in Tempe. The property was acquired for $61.5M. 2. Triumph Properties Group purchased Deer Creek Village, a 308-unit multifamily complex north of the Loop 101 at 31st Avenue, […]
Plans for Phase 3 of Mesa Commerce Center
By Tasha Anderson for AZBEX Owner, Puppyfeathers Limited Partnership and developer, Metro Commercial Properties recently submitted plans to the City of Mesa for the third phase of the Metro East Valley Commerce Center development. To be located at the NWC of Baseline Road and Horne Street, Metro East Valley Commerce Center III, “is ideally situated […]
Pima Soliciting SoQs for Kino South Complex
Source: Pima County Master developers interested in bringing additional sports amenities and commercial opportunities to the Kino South Complex have until March 11th to submit their proposals. The expansion site has more than 80 acres available for sports, events, hotel, retail, restaurant or other development. “This is an excellent opportunity for developers to work with the […]
Litchfield Park Unveils City Center Design
By Bree Florence for West Valley View At Saturday’s “State of the City” meeting, the city of Litchfield Park focused on new developments, including a new downtown city center and museum. A design for the city center was unveiled at the February 1st meeting, held at the Church at Litchfield Park. Mayor Thomas Schoaf discussed […]