Commercial

Phoenix Apartments

Via bizjournals.com Don’t count out the apartment wave just yet. The Phoenix metro area ranked among the top multifamily markets for net leasing in the U.S. in the first quarter, according to new data from CBRE Group (NYSE: CBG). New York – including Newark and Long Island — saw the most apartment absorption (or net leasing) in the first quarter with 6,400 units rented. Phoenix was fourth with 3,300 units

Downtown Phoenix Struggles With Affordable Housing In Midst Of Development

Via azbigmedia.com “‘No’ is a hard thing to say to people who need help,” Joe Keeper said. As director of real estate development at Native American Connections, Keeper advocates for affordable housing in Phoenix, and he said he is constantly turning people away who don’t fit the requirements but need assistance affording rent in Phoenix. Development in Phoenix is rising, and it is causing even more obstacles for affordable housing

Via prnewswire.com Healthcare Trust of America, Inc. (NYSE: HTA) (the “Company”), the largest dedicated owner and operator of medical office buildings in the United States, announced today that it entered into a definitive agreement to acquire all of the medical office building assets and medical development platform of Duke Realty Corporation (“Duke“) for $2.75 billion in cash, net of credits for development completions (the “Duke Acquisitions”). The transaction will close

Via azbigmedia.com The Phoenix metropolitan statistical area (MSA) multifamily market had another stellar first quarter fueled by both robust jobs and population growth. In fact, Maricopa overtook Texas’ Harris County as top spot for population growth adding 81,000 people, an average of 222 new residents per day, between July 1, 2105 to July 1, 2016. Total nonfarm employment grew by 2.7 percent led by the leisure/hospitality (+6.2 percent), financial activities (+6.1

Ryan Sarbinoff Takes The Helm At Marcus & Millichap

Via azbigmedia.com Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced Ryan Sarbinoff has accepted the position of regional manager in the firm’s Phoenix office. Previously, Sarbinoff was regional manager for Marcus & Millichap in Cincinnati.             “Ryan is an effective leader with a passion for putting people on the path to success,” says Michael Glass, first

Marana Planning Commission Moves Lazy K Plan Forward

Via tucson.com For the third time since 2014, Marana’s planning commission has voted to recommend approval for a controversial plan to turn a historic dude ranch into a 178-home subdivision. But this time, the advisory board’s Wednesday night vote — which is only a recommendation to the Town Council — was not unanimous. Eighteen members of the public addressed the commission about the plan to rezone the Lazy K Bar

The Opus Group Appoints 2 New Associates For Phoenix Market Expansion

Via azbigmedia.com  The Opus Group (Opus) announced today that two new associates have been appointed to Opus Development Company, L.L.C. Brett Hopper has joined as senior director, real estate development and Matthew Visnansky has joined as real estate manager, real estate development. In their new roles, Hopper will be responsible for sourcing new development opportunities and Visnansky will be responsible for managing development efforts. “Brett and Matt each bring unique and

Phoenix Grocery Store

Via azcentral.com You can do a lot in downtown Phoenix now, from going bowling to grabbing a cocktail at a speakeasy. The city’s core has award-winning eateries, clothing boutiques, major sports teams, campuses for the state’s two biggest universities and a train to take you to the airport. But while you can fill a prescription in downtown Phoenix, you still can’t fill a grocery list. That’s why when construction started on  a Fry’s

Banner Behavioral Upgrade

Via azcentral.com The construction project on the southwest corner of Miller and Earll Roads in Scottsdale looks like a stylish hotel. Gray masonry walls, layered like an Arizona canyon, are intersected by vertical windows stretching two stories high. Perforated steel “fins” shade smaller windows; trees peek above courtyard walls; and desert shrubs add color to the exterior. However, the building is actually an expansion of the existing Banner Behavioral Health

9 million tax break in Phoenix

Via azcentral.com A massive high-rise project near downtown Phoenix’s Roosevelt Row will move forward with a tax break worth an estimated $9 million. By a 7-2 vote, the City Council on Wednesday approved an agreement with Clark Street Holdings LLC, to build three residential towers of 29 stories, 25 stories and 19 stories at Third and Pierce streets. Developer CA Residential plans to add 612 rental units and retail and commercial space to the area. The