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Lee & Associates - Arizona | Week in Review | Friday, May 29, 2015

05/29/2015


LOCAL NEWS

 

Phoenix commercial real estate in recovery
It’s shaky, but improving. Experts say the Phoenix-area commercial real estate market is now officially in a slow recovery mode. A full 100 percent of the real estate brokers participating in a quarterly survey by the W. P. Carey School of Business at Arizona State University indicate they feel “optimistic,” and 84 percent believe the market is on an upswing. ASU NEWS

 

10 important people and events in Arizona real estate
Arizona has long experienced real-estate booms and busts, fueled by an abundant supply of vacant land and steady steam of new residents. AZCENTRAL


Mesa Apple plant damaged by fire
A fire at the new Apple plant in Mesa started at the solar panels on the roof of the facility this morning causing an unknown amount of damage, according to a Mesa Fire deputy chief. PHOENIX BUSINESS JOURNAL


Tempe, ASU at odds over high-rise towers

A new high-rise tower complex planned for downtown Tempe would bring hundreds of luxury apartments and hotel rooms to the city's increasingly urban core, but Arizona State University President Michael Crow is concerned the buildings are too tall. AZCENTRAL


ArtHAUS Brings Artful Residential Infill to Midtown
Phoenix’s Midtown District is known for its collection of artistic venues, including the Phoenix Art Museum, The Heard Museum, and The Arizona Opera. By next spring, that list of artful spaces will grow with the addition of a new architecturally unique residential project called ArtHAUS. DOWNTOWN PHOENIX JOURNAL

 

 

NATIONAL & INTERNATIONAL NEWS


Multifamily Developers Favor Downtown, But Suburbia Holds Its Own
In the midst of the Great Recession, vacancy in the multifamily sector hit a cyclical high of 8.0 percent. Over the next several years, the vacancy rate nearly halved, reaching 4.1 percent in early 2014. Vacancy now stands at 4.2 percent as of the end of the first quarter, where it has plateaued for 12 straight months. NATIONAL RE INVESTOR

 

After Riding Apt. Value Wave, Investors Taking Long Look at Cashing Out, Diversification
The multifamily markets in most metros are well into the late expansion phase of the real estate cycle, while other product types, notably office and retail, are still in the early stages of their expansion in most U.S. markets, according to CoStar's First Quarter 2015 Multifamily Market Review and Forecast. COSTAR

 

Top Tips for Investing in Commercial Real Estate
Investing in commercial real estate — office and retail space, restaurants, warehouses, gas stations, and the like — can be lucrative and, due to its income component and less pronounced business cycles, serves as a good hedge against the volatility of the stock market. INVESTOPEDIA

 

 

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05/29/2015 - 09:00

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