Commercial Real Estate & Business News – May 11, 2017

LIKE birds, people tend to move from place to place along established routes. Since the second world war, among the most traveled of these routes in America has been from the "snow belt" in the Midwest and north-east to the "sun belt" in the south and west. The recession that began in 2007 knocked Americans off course for a while, and led to confident predictions that old cities would recover some of their population losses. But people have begun to head southward and westward again...»
Healthcare Trust of America, Inc. (NYSE: HTA), the largest owner and operator of medical office buildings in the United States, announced today that it closed on the previously announced medical office building portfolio in Arizona and Southern California. The total consideration for the portfolio was approximately $150 million, or $253 per square foot....»
DuPont Fabros Technology Inc. (NYSE:DFT) has bought a 56.5-acre undeveloped site in Mesa with plans for a data center campus. That East Valley campus could total as much as 1 million square feet, according to state and local officials. Washington D.C.-based DuPont specializes in data center development...»
The Arizona economy is expected to continue with steady, understated growth in the next year under the Trump presidency, experts said Tuesday. President Donald Trump's defense policies could bolster the state through its myriad government contractors, and Trump's health-care reform could weigh down that sector, which represents 20 percent of all new jobs in the state...»
Modern Phoenix Week, which wrapped up in April, highlighted the Southwestern city beyond its famous manicured resorts. Once synonymous with Scottsdale, the heart of tourism, Phoenix proper has evolved considerably as a new generation gentrifies historic, walkable neighborhoods. Here's a primer for in-town places that are a short stroll, bike ride, or Uber away....»

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