Commercial Real Estate & Business News – April 18, 2017

Phoenix is weighing an estimated $9 million tax break for developers of a massive high-rise project near downtown's Roosevelt Row, even as a lawsuit over a similar incentive has stalled construction on another residential tower nearby. ...»
Renters in metro Phoenix are getting a bit of a break these days. It's not that rents are falling, just that they aren't rising as fast as they did last year. The average cost of leasing a Valley apartment grew by about 5 percent during the past year, according to new data for the national research firm Yardi Matrix....»

The names and descriptions of recent luxury seniors housing projects read almost like a draft day roster for a major sports league. On April 13, Bridgewater Capital announced plans for Mill Creek Place, an active adult community of townhomes on 38 acres in Staten Island, N.Y., with easy ferry access to Manhattan. In Fort Lauderdale, Fla., Canadian developer Jean Francois Roy is aiming to develop the Riverwalk Residences of Las Olas...»

President Donald Trump's tough talk on what he has described as other countries' unfair trade advantages over the US has caused concern among many people in the world of industrial real estate. They worry the new administration will attempt to rewrite the rules of international trade, and perhaps even start a "trade war" that could curb the import of needed goods....»
Barclay Group in Phoenix and Fry's Food & Drug Stores Inc. have acquired a 19.059-acre (net) site at the southeast corner of Baseline and Higley roads in Gilbert that is planned for development as a 165,000-square-foot shopping center being called City Gate Marketplace. The retail plaza, which will be anchored by a 123,419-square-foot Fry's Marketplace, will also feature 34,600 sq. ft. of shop space...»

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