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The Dealmaker: 4/4/2017

Posted by   /  April 4, 2017  /  No Comments

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The Dealmaker is a daily note of the day’s top real estate stories served just in time for lunch. Bon Appetit! Subscribe here to receive the Dealmaker to your inbox.

 

 

 

 

 

A HIGH-RISE WITH NO NAME – New high-rise residential development slated for downtown Phoenix. “Clark Street Holdings… bought the land for $6.62 million from Third and Pierce Development.” Although the project has yet to be named and details of its “size and scope” have not been “disclosed” (or, if you will, “unmasked”), this report in Phoenix Business Journal does feature a few remarks from the brokers along with an aerial of the 1.3 acre site. http://bit.ly/2oWaPUG

Council to look at housing needs in Maricopa. “Does Maricopa need more diverse housing? That’s the question posed by city hall in a survey conducted this winter…. It asked residents what housing should look like in Maricopa in the next decade.” Do residents want “duplexes, condominiums, executive homes, and townhomes”? Housing for singles and/or seniors? Read more about the survey and find out when the city council plans to present the results (very, very soon!), at inMaricopa. http://bit.ly/2nGiYwq

Scottsdale Airport embarks on year-long renovation bolstered by bustling air traffic. “The… project will bring two new executive hangers, a new Aviation Business Center and the Scottsdale Airport Thunderbird Field II Plaza. The new business center will include a new restaurant, outdoor patio seating and an event venue.” Get further details on the renovation and check out the renderings at Scottsdale Independent. http://bit.ly/2nATGi8

Pollack: A surprise. Hey, it’s the Monday Morning Quarterback, so just think of this “surprise” as a sort of economic quick kick — “via the Conference Board’s consumer confidence index, which jumped to its highest level in almost 17 years.” MMQ explains the significance, plus get these “Snapshots” —> U.S.: GDP, Corporate Cash Flow (chart included!), Personal & Disposable Income, Savings, Home Prices & Pending Home Sales. AZ: Personal Income, S&P/Case-Shiller HPI. http://bit.ly/2n83FjM

Rents continue to increase in Phoenix, report says. According to Apartment List’s April 2017 Rent Report, “rents increased by little more than half a percent in the past month” and “more than 5 percent in the past year.” And where does that put median rents for one- and two-bedrooms in Phoenix? Find out and see how rents stack up for the same units in Glendale and Scottsdale, in Phoenix Business Journal. http://bit.ly/2nU54rm

Phoenix office report: total vacancy drops to 9-year low. “The total vacancy level of 15.9 percent hasn’t been seen since the second quarter of 2008.”  And even better news? “The strong local economy and job creation should drive real estate market growth for many quarters to come.” For a breakdown of this office-market report along with a list of five “Key Transactions,” head to AZREhttp://bit.ly/2oFak29

Developer adds land to big planned Mesa technology park: BREW. “Sunbelt Investment Holdings has bought another 67.5 acres for the planned Mesa Elliot Technology Park in the East Valley… BREW reports that… Sunbelt now has 270 acres at the planned tech park development near the Loop 202 and Elliot and Ellsworth roads.” More on the deal and the development at Phoenix Business Journal. http://bit.ly/2nZg88e

New downtown high-rise bonus triggers Flagstaff transit ideas. “A new city zoning ruling will allow five more floors on the new Marriott in Flagstaff, prompting a transit district proposal for an aerial tramway to key downtown locations…” KEY QUOTE: “[R]esidents who choose to travel by personal gondola would be required to pay the docking permit fee associated with their city block.” (Sounds crazy, right? But perhaps the most significant takeaway from this Arizona Daily Sun article is its date.) http://bit.ly/2o6wJax

Cameron’s $5M + deals of the day – http://bit.ly/2oWjNBl

Arizona’s one-of-a-kind Kentucky Derby Party returns May 6th at Turf Paradise – http://bit.ly/2nBwmBC



As a supplement to the Dealmaker, we thought you might enjoy these articles!


The cyberthreat to government that’s lurking in the shadows; Lauren Reynolds, Rose Law Group litigation attorney who focuses on privacy and data breach issues, comments. “Many public employees use unsanctioned software on work computers.” In Missouri, “2,500 unknown software programs or services were operating throughout the state’s IT network.” Governing takes a look the “security risks” that such software poses and what can be done about it. Lauren Reynolds: “Individuals and companies are not the only ones rightfully concerned about data breaches. Government agencies are also being more vigilant in their efforts to prevent such breaches in ways we should all take note of. With a world of information at our fingertips, it has become easy to forget that an innocent download can result in breaches in cyber security.” http://bit.ly/2o6hm1R

Forfeiture reforms move closer to becoming law. “Without a single dissent, state senators approved changes… in Arizona laws designed to sharply curb the ability of prosecutors and police to seize property. The measure includes a new requirement that prosecutors must prove by ‘clear and convincing evidence’ that the items they want to seize were involved in criminal activity.” Further details on HB2477, including its “potentially more far-reaching provisions,” in this report from Capitol Media Services’ Howard Fischer at Arizona Capitol Times. http://bit.ly/2oFn6h9

Rio Nuevo program would revitalize Tucson’s “Sunshine Mile.”Arizona Daily Star: “The Rio Nuevo Multipurpose Facilities District Board has an ambitious plan to turn empty buildings on the Sunshine Mile along Broadway into thriving businesses. It is a plan mostly on paper for now as the city moves forward to widen East Broadway between Euclid Avenue and Country Club Road to a six-lane road with bike lanes, sidewalks and landscaping.” http://bit.ly/2oyhZCp

U.S. Supreme Court declines Arizona diaper changing case, upholds molestation conviction. “The… court… refused to review the conviction of Jerry C. Holle on charges he inappropriately touched his 11-year-old step-granddaughter. The move means the Pima County resident will not escape the 10-year prison term on charges of molestation…” Could it also mean that parents will now get brought up on molestation charges for “routine actions,” such as changing a diaper? Howard Fischer examines, at Arizona Capitol Times. http://bit.ly/2nAYnse

9th Circuit sides with feds in air quality dispute. “In an extensive ruling, the… Court of Appeals said Asarco and CalPortland Co. have no legal right to challenge… mandates because neither company had first registered its objections with the EPA… [T]he judges also rebuffed various other challenges to both the kind of equipment companies would be required to install, as well as limits on their emissions… Monday’s ruling drew criticism from the Arizona Department of Environmental Quality, which had sided with the companies.” By Howard Fischer in Arizona Capitol Times. http://bit.ly/2oWivGF

Luxury Apartments Close in Off Market Transaction for $25M Read more

Over 600 People Attend Grand Opening at Iconic New Rosewood Grove Read more

CableOne Gifts $100,000 for Hance Park Amphitheater Read more

Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group.  Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others.  The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.

Belfiore Real Estate Consulting is Arizona’s leading housing market research firm.  The company couples its surveys of up to 350 new home subdivision sales personnel monthly with resale and public data, as well as the perspectives of leading development, homebuilding, lenders, brokerage, real estate law, contractors, and investors to report on and forecast residential housing market conditions.

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  • Published: 3 weeks ago on April 4, 2017
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  • Last Modified: April 7, 2017 @ 3:06 pm
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