Commercial Real Estate & Business News – August 30, 2016

Rents are on the rise in metro Phoenix, particularly in infill hot spots in Phoenix, Scottsdale and Tempe. The Valley's average apartment rent has climbed 22 of the past 23 months, according to national research firm Axiometrics...»
A new mixed use development may be coming to northeast Tempe. Eastline Village, a 698-unit undertaking of over 1.3 million square feet, is proposed at a location west of the southwest corner of Loop 101 and Apache Boulevard...»
A 1031 Exchange company formed by a group of investors in New York City paid $32.1 million ($214 per foot) to buy a 149,992-square-foot office building at 15111 N. Pima Road in Scottsdale. The three-story office structure, which is located within the 54-acre Raintree Corporate Center business park, was sold by a joint venture formed by ViaWest Properties and Contrarian Capital Management...»
The successful sale of a $29.3-million, two-building office complex reflects broad investor demand for commercial real estate in Greater Phoenix, including that of an institutional nature...»
The City of Chandler is seeking proposals from creative developers interested in bringing a destination restaurant/entertainment venue to the southeast corner of Washington and Chicago streets downtown...»

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