PHX multifamily still appealing
By Roland Murphy for Arizona Builder’s Exchange Institutional investors are actively seeking multifamily opportunities in the Phoenix area, and that trend shows no sign of slowing down in the near term, according to the “ABInsight Phoenix MSA 2Q 2018” market report published this week by ABI Multifamily. In the report, ABI Director of Research Thomas […]
Read More →New York investor Blackstone snatches up $898 million in metro Phoenix real estate
By Catherine Reagor | Arizona Republic One of world’s largest real estate investors just went on an apartment-buying spree in metro Phoenix, purchasing six apartment complexes for almost $311 million. New York-based Blackstone Group closed on the apartments spanning from Surprise to Chandler on Monday, according to public real estate records. This big acquisition comes after […]
Read More →Investor activity heats up in Phoenix multifamily market
(Editor’s note: News releases are published unedited, unless they contain factual errors.) Prices Spike as Newer Projects Command Top Dollar Phoenix, August 8, 2018 – The Greater Phoenix multifamily market experienced a mixed second quarter, but investment activity commanded the most attention. Sales were quite active and prices spiked as newer, more expensive projects changed […]
Read More →Arizona economy: Big gains expected in employment, population
By Russ Wiles | Arizona Republic Arizona’s job growth is expected to outpace the nation over the next several years, and most of the gains will occur in metropolitan Phoenix, a report released Thursday forecasts. The state’s population also is expected to grow by 1 million residents over the same time period. Arizona will […]
Read More →Southeast Valley real estate market update for YTD 2018
By David Meek | The Arizona Report Southeast Valley Real Estate Market Update For YTD 2018 The Cromford Report is an aggregator of MLS data and public real estate records. Its analysts meet monthly with Phoenix real estate agents to present trends and to unpack dynamics of the local sub-markets in the Valley. I attended […]
Read More →Phoenix City Council selects Vania Guevara as interim council member
By Jessica Boehm, Arizona Republic Vania Guevara, a former District 5 city staffer, was selected as the interim council member for that district during a special meeting Wednesday. The council voted 4-3 to appoint Guevara, 31, to the council seat left open when Daniel Valenzuela resigned last month to run for mayor. Council members Sal DiCiccio and Michael […]
Read More →Phoenix, Scottsdale neighbors fight plans for Kierland high-rise
By Catherine Reagor | Arizona Republic A battle over a new tower in Phoenix’s upscale Kierland neighborhood is currently brewing. As usual, much of the zoning fight is over height. Neighbors of a hotel/condominium/retail high-rise proposed by DMB Development in the popular area don’t want the new building higher than others nearby. Some of the […]
Read More →Lack of resale home supply driving new home demand
By Callan Smith | Rose Law Group Reporter Increased demand for new homes, due at least in part to the continuing resale shortage, was the takeaway from the Metro Phoenix housing market update given Thursday by Jim Belfiore, president of Belfiore Real Estate Consulting, before a large group of homebuilders and industry insiders. Homebuyer traffic […]
Read More →Home prices rising faster in Phoenix than rest of country, report says
KTAR Home prices in the Phoenix area have been rising faster than the rest of the country, according to a new sales report. That’s good news for Valley sellers and bad news for buyers. The median sale price of a Phoenix metro home was $254,000 for the second quarter of 2018, a 9 percent […]
Read More →Phoenix has more than 2.7M SF of office space under construction
AZBigMedia The more than 2.7 million square feet of office space now under construction in metro Phoenix is the most seen since 2015. But, according to the Q2 2018 Phoenix Office Insight report from the Phoenix office of JLL, it still may not be enough to meet an estimated 4.6 million square feet of demand that is in […]
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