Commercial Real Estate & Business News – July 26, 2016

The two buildings will be 97,000 square feet and 115,000 square feet, and will join a 17,500-square-foot, two-story office/warehouse building that was recently leased to Super Shuttle International on a long-term basis...»

According to Black Knight Financial Services' most recent Home Price Index (HPI) report, home prices in May 2016 registered at $263,000, just 1.8 percent off the June 2006 peak of $267,000. Moreover, price tags are up 31.7 from the market's bottom...»
Years have passed since the credit crisis and housing market crash with banks foreclosing on millions of homes nationwide. In the subsequent years, many of these homes have been purchased by investors. From major institutions to individual investors, hundreds of billions of dollars of single family residences have ended up as rental properties in the control of investors. Groups like Blackstone had purchased upwards of 50,000 single family homes since the downturn and are now beginning to look to liquidate blocks of these homes and realize their profits...»
A Utah digital marketing company has picked Old Town Scottsdale for what could be a 500-worker sales and operations center. That company, Clearlink, also filled some downtown Scottsdale space previously occupied by troubled human resources technology company Zenefits...»
The 312-room resort at 5001 N. Scottsdale Road was touted as the the largest resort renovation in Scottsdale during the transformation. The project was initially estimated to cost $22 million...»

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