DAILY TOP 5

It’s easy to see the bad-news stories about bricks-and-mortar stores shuttering from the overwhelming move of consumers to e-commerce. But I don’t think this form of retail will ever die completely. Rather, there is a disruption to the way we’ve known it to be. Commercial real estate landlords will have to navigate their way through this new landscape.I think it’s kind of ironic that we’re almost returning to our

The strong supply growth in most major markets is just another confirmation that multifamily construction financing is still a competitive environment. Underpinned by a variety of factors—such as availability of capital and a growing interest for urban core development—capital costs have started decreasing. Jonathan Lee, principal & managing director of George Smith Partners, provides more explanations for the

With current market dynamices the way they are, grand old hotels are proving to be ripe candidates for renovation. Value-add investors are especially attracted to “full-service” or “upscale” hotels, which at the very least provide food and beverage service and often come with a full suite of amenities for guests like fitness centers, swimming pools and conference space. “There’s been a real run-up in activity since

With a population of nearly 84 million, it’s safe to say Millennials are destined to make waves in the housing market. However, a recent analysis from First American suggests the industry isn’t harnessing their full potential. “Millennials are the largest generational group the U.S. has ever seen, and the largest segment of Millennials will turn 30 in 2020, the prime age for buying a first home,” First American

Twenty-five percent of Redfin.com home searchers looked to move to another metro area in the first quarter of 2019, compared to 23 percent during the same period last year. The national share of home-searchers looking to relocate currently sits at its highest level on record, tied with the fourth quarter of 2018. The latest migration analysis is based on a sample of more than 1 million Redfin.com users who

Arizona climbed to No. 7 in an annual survey of CEOs about which states are best for business. The Grand Canyon state had been No. 9 each of the previous two years in Chief Executive’s rankings of the best and worst states for business. The magazine compiles the list each year by asking CEOs to rate the states in which they do business on taxes, quality of employees and quality of life. “Our methodology for this list is

CBRE announced the sale of an 8.24-acre site located at the southwest corner of Raintree Drive and 87th Street in Scottsdale, Ariz. The land commanded a sale price of $11.5 million.Barry Gabel, Chris Marchildon, Will Mast and Mitchell Stravitz of CBRE represented the seller, Liberty Property Trust, in the transaction. The buyer was Trammell Crow Company (TCC), one of the nation’s leading developers and investors in

Retail is alive and well—booming—in Goodyear, Arizona. As one of America’s fastest growing cities with a primary trade area population nearing 142,000, real estate developers (who collectively invested nearly $100 million just last year) are seizing available sites and properties as quickly as possible. Most recently, a West Coast developer purchased 36 acres of prime retail land for $6 million, and a joint venture

Members of the real estate community are scrambling to understand how they can profit by investing in one of the more than 8,700 low-income areas designated as federal Opportunity Zones. But it’s the asset that should drive the investment decision, not the tax benefits, says Dean Adler, CEO & co-founder of real estate equity shop Lubert-Adler Partners. “The question is, many people who are promoting these

Investors can still find the financing they need to develop apartment properties.“If you can get a site to build, there are people who would love to lend on it,” says Bill Leffler, vice president in the multi-housing group of real estate services firm CBRE. Interest rates remain low and many lenders are willing to make multifamily construction loans. However, these lenders have become more

The future still bodes well for the office and industrial sectors, according to the Royal Institution of Chartered Surveyors 2019 Q1 U.S. Commercial Property Monitor report. However, survey participants indicate that more downward movement is on tap for the retail sector. On the whole, according to the report, “results show sentiment in the real estate market remains generally solid in the first

While it’s often blamed for the fall of brick-and-mortar stores nationwide, Amazon also helps millions of small businesses thrive in the digital era. The tech giant published its second annual “Small Business Impact Report” on Tuesday, revealing that it has helped more than 1.9 million U.S.-based small and medium-sized businesses (SBMs) generate more than $160 billion in 2018. The company says that

Outside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, rockwork and themed environments, has announced its role in the construction of an architectural fountain for the central plaza of The Grand at Papago Park Center, a new 3.2 million-square-foot, Class A mixed-use project on the last developable parcel within the

Each week seems to bring new industrial construction projects in Phoenix as developers and investors scramble to meet demand for distribution and logistics facilities in the area and across the Southwest. Seefried Industrial Properties and Crow Holdings Capital Real Estate just bought 40 acres in Avondale near Goodyear, Arizona, for construction of 101 Logistics Park, a two-building regional distribution

The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report. On one hand the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was enough to post a 10.8 percent year-over-year gain. But Arizona also lost 900 jobs last month in wholesale and retail

The latest investor smitten with the rent growth in greater Phoenix is Dallas investment shop Milestone Investments. Milestone threw down $112 million, or $157,000 a unit, for an apartment complex in suburban Avondale, Arizona, according to CoStar data. The 715-unit Bella Mirage is 10 miles west of downtown Phoenix. The garden-style complex was built in 2009, giving Milestone a chance to buff up

Last week’s economic news paints quite a picture.Employment is growing at twice the rate necessary to keep pace with growth in the working-age population. This, as a result, will pull more unemployed workers into the labor force. In addition, employment also grew well above expectations. The unemployment rate is now at a nearly 50-year low. Personal income continues to grow at a faster pace than

Five Star Development announced today it has exceeded over $215 million in luxury real estate sales within the initial release of The Villas at The Ritz-Carlton Residences, Paradise Valley and will officially begin writing contracts for the second release, The Estate Homes, on Monday, May 6. Within The Villas, only a handful of Residences are available for purchase, starting from $1.6 million. One of the most

Southwest Mesa didn’t lose its vibe – a vibe that once included the region’s premier shopping mall – overnight. So, no one expects that vibe to come back overnight, either. And when – if – it does, it will be nothing like the magnetic attraction that drew shoppers and diners a generation ago. Outlines of that future are beginning to emerge, one property at a time, under the watchful eye of a city government that has

Hiring was strong for the second straight month in April and unemployment fell to a new 50-year low, easing concerns that a slowing global and U.S. economy could dampen job growth.Employers added a booming 263,000 jobs, the Labor Department said Friday, beating forecasts of 190,000. The unemployment rate fell from 3.8% to 3.6%, lowest since December 1969, but that was because nearly 500,000

The state’s seasonally adjusted jobless rate ticked down a tenth of a point in March in what, by all indications, was a pretty unremarkable report. On one hand the state’s construction industry continues to boom, adding 2,800 jobs last month and 16,700 in the past year. That latter figure was enough to post a 10.8 percent year-over-year gain. But Arizona also lost 900 jobs last month in wholesale and retail trade. On an

PCS Development and RTE2 Builders announced it will officially break ground in June of 2019 on The Premiere at Eastmark, a 216-unit, $46 million, Class A Residential Apartment Community at Eastmark, in Mesa’s expanding Gateway corridor. The owners assembled a best-in-class planning, design, engineering, and management team to develop the property at levels never seen before in the

The Phoenix office of JLL has completed a 40-acre land purchase that paves the way for 101 Logistics Park, a new two-building, Class A industrial regional distribution center being developed in Avondale, Arizona by Seefried Industrial Properties and Crow Holdings Capital Real Estate.JLL Managing Directors Marc Hertzberg and Anthony Lydon, and Vice President Riley Gilbert represented the developers in the

The Phoenix Suns announced Friday the location of their new training facility, which will sit at Camelback Road and 44th Street in Phoenix.The team plans to break ground on the facility by the end of summer this year.The facility is privately-financed and will “feature the latest innovations in sports science and player development,” a statement from the team said. It will also include offices, health and training