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Lee & Associates - Arizona | Week in Review | Friday, April 24, 2015

04/24/2015

LEE NEWS

                    

California Investor Buys E. Phoenix Apartments For $5.8 Million Santerra Apartments, a 128-unit multifamily complex at 3434 E. McDowell Rd., in Phoenix has sold to a California Investor for $5,807,500 or $45,371 per door. REAL ESTATE RAMA

 

Phoenix office market gains momentum As the overall economy continues improving, the Phoenix office sector is experiencing strong momentum in a variety of different measurements. Office construction, sales velocity and rents are all on the rise; however leasing activity remains muted. AZRE

 

L.A.-based company just the latest tapping Nashville's development boom Another day, another national company enticed to open an office in Nashville, motivated by the city's real estate and development boom. NASHVILLE BUSINESS JOURNAL

 

 

LOCAL NEWS

 

Exclusive: Class A office building at Central and Camelback could be converted to apartments An 11-story Class A office building at Central Avenue and Camelback Road in Phoenix could be developed into apartments. PHOENIX BUSINESS JOURNAL

 

The Asymmetrical World of Local Impact Fees: Part Two The easiest way to explain what impact fees pay for is to explain what they don’t pay for. Development fees may not be used for construction, acquisition or expansion of public facilities, nor repair or maintenance of existing public services or facility expansions.  REAL ESTATE DAILY NEWS

 

Macerich upgrading Arrowhead Towne Center Macerich today announced details of key updates planned for Arrowhead Towne Center, its dominant West Valley retail property that also will welcome a new, 25,000-square-foot H&M. AZRE

 

 

NATIONAL & INTERNATIONAL NEWS

 

National Office Sales Lead Strongest First Quarter for CRE Investment Since 2007 Corporate Users, Institutional and Foreign Investors Shell Out Top Dollar for CBD Assets as Sellers Cash Out Value-Add Plays COSTAR

 

Great Things Happening with Commercial Real Estate in Detroit Although there are many cities in the US experiencing rebound after the recession, Detroit, Michigan seems to be leading the pack. THE NEWS FUNNEL

 

Prologis, Norges Acquire KTR Capital for $5.9B Prologis and Norges Bank Investment Management have partnered to acquire the real estate assets of KTR Capital Partners for $5.9 billion. The properties will be acquired by Prologis US Logistics Venture, a 55-45 JV between it and the Norwegian government pension fund.   GLOBE ST.

 

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04/24/2015 - 09:00

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