January 8, 2021

The Phoenix skyline is getting an upgrade. Aspirant Development has acquired a two-acre land site in Downtown Phoenix with plans to develop the tallest building in Arizona. Aspirant Development purchased the property from Desert Troon for $9.2 million in an off-market deal

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VanTrust Real Estate has completed construction on Phase II, a 118,000-square-foot office building in less than a year. Located on 12 acres at 4100 W. Chandler Blvd, in the heart of a thriving and growing business center in the southeast valley, the two-story building VanTrust development

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Another major downtown project, Transition 17, is expected to come before Council this month for consideration of a memorandum of understanding with developer Mira Vista Holdings. Jeff McVay, manager of downtown transformation, said the agreement is an important first step

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With an appetite for Phoenix’s hot market, out-of-state investors ended 2020 with a slew of big apartment purchases. Because housing is a necessity, multifamily will always be a secure investment, said Linda Fritz-Salazar, vice president and associate broker for Orion Investment Real Estate in Scottsdale

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Phoenix Rising FC hopes 2021 is about more than just improved play on the field. The organization said it is committed to a better fan experience, too. A club that advanced to the USL Championship in 2020 – before it was canceled because multiple Tampa Bay players tested positive

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January 7, 2021

Lincoln Property Co. sold its newly developed Grand2 property. The deal was the largest office transaction in Phoenix last year, and the fifth largest office deal in the US. Grand2 is a 9-story, 358,000-square-foot office building fully leased to San Francisco-based DoorDash. Apex Capital Investments Corp. purchased

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In a time period when only one-third of metros in the country added construction jobs, the Phoenix area led the pack for job growth in the industry. According to data from the Associated General Contractors, in the 12-month period that ended in November 2020, only 34% of U.S. metros

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Housing developer Greenlight Communities broke ground on a 286-unit multifamily complex aimed at midpriced rental rates in the fast-growing Phoenix suburb of Goodyear, Arizona. Greenlight, based in Scottsdale, Arizona, said it expects to finish construction on the property known as

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For the second-consecutive quarter, single-tenant net lease cap rates have reached an all-time low, according to The Boulder Group’s Fourth Quarter 2020 Net Lease Research Report. The results contradict industry expectations at the midyear point, when 80 percent of net lease participants in a survey

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The Opportunity Zones program has been around for more than three years now. Throughout this period a lot has happened, including last year’s health crisis and culminating with the 2020 presidential elections, which appeared to mark the passage to a new economic cycle. Multi-Housing News asked two Opportunity

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January 6, 2021

For the real estate market, 2021 will be about reinvention. Real estate leaders will be challenged to find responses to COVID-19 and civil unrest threatening their property values. This uncharted territory will first and foremost involve preserving value across each portfolio, keeping

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As the COVID-19 battle moves into its second year, a survey of multifamily industry leaders said timely rent payment was the most challenging issue of 2020. Optimism about rent growth and the overall economy dropped to the lowest levels in a decade among respondents in an annual survey by J Turner Research

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A partnership of real estate private equity firm Ascentris and developer Cypress Office Properties bought a new office in Tempe, Arizona, one of Phoenix’s strongest and highest-profile office districts. Denver-based Ascentris and Cypress, based in San Diego, bought the 169,223-square-foot building

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This is the fourth installment of our economist Q&A series, as we work to answer the top 2021 housing market questions. Every Tuesday in December, HousingWire interviewed a top economist in the HW+ Slack channel. The 2021 housing market forecasts have focused on everything from

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People were on the move in 2020, and Phoenix was in the top 10 U.S. cities for inbound growth. To measure the changes, New York City-based relocation services provider Updater analyzed a random sampling of 1.5 million h​ousehold moves across the United States that took place from January

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January 5, 2021

As Hank Nicholas, national business leader of Project Finance and Affordable Housing Divisions for KeyBank Real Estate Capital, looks at the year ahead, he’s keenly aware of the risks lingering in the market. Whether it is market risks around primary, secondary and tertiary markets

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MDH Partners has purchased roughly 41 acres in Goodyear, Ariz. for an undisclosed amount. The Atlanta-based commercial real estate development firm plans to construct a two-building speculative industrial project called Gateway 303.Pat Feeney and Dan Calihan of CBRE

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YAM Properties, a company owned by GoDaddy founder Bob Parsons, made a significant retail purchase recently, acquiring the 240,370 square foot Pima Crossing center in Scottsdale. YAM Properties purchased the shopping center from Karlin Real Estate for $51.5 million

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Before Taiwan Semiconductor Manufacturing Co. builds a massive factory in northwest Phoenix, the company is setting up its operations near Metrocenter. The semiconductor giant in late December agreed to lease more than 46,000 square feet of office space to serve as an administrative base

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Housing developer Greenlight Communities broke ground on a 286-unit multifamily complex aimed at midpriced rental rates in the fast-growing Phoenix suburb of Goodyear, Arizona. Greenlight, based in Scottsdale, Arizona, said it expects to finish construction on the property

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The past year has been a struggle for many industries, but no industry was affected more by the COVID-19 pandemic than the retail industry. To get a better view of what the retail market in the Greater Phoenix market endured during 2020 and what lies ahead for those

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Commercial property sale prices posted modest gains in November but at a slower pace than in recent months, according to the latest monthly CoStar Commercial Repeat Sale Indices. New supply levels have fallen considerably during the coronavirus pandemic, the report said

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2020 was a momentous year and one that had a dramatic impact on commercial real estate. Office and retail leases stalled, building sales halted and hotel projects were largely put on hold during the height of the Covid-19 pandemic. But that isn’t evident with the massive amount

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A partnership of real estate private equity firm Ascentris and developer Cypress Office Properties bought a new office in Tempe, Arizona, one of Phoenix’s strongest and highest-profile office districts. Denver-based Ascentris and Cypress, based in San Diego

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8.8 acres at the southeast corner of Gilbert and Riggs roads in Chandler sold this past week for $2,950,000, which was above the original asking price. Judi Butterworth and Larry Kush of ORION Investment Real Estate represented the sellers,

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