Commercial Real Estate & Business News – November 14, 2016

 
As more high-rise office buildings open in the major U.S. markets, experts say the new trophy space will provide an added boost to already high average leasing rates in those markets. However, this trend is only expected to last through 2017, with enough new deliveries expected by 2018 to meet existing demand growth...»

Great American Tower, acquired in 2007, has been recapitalized and improved with a series of upgrades that, among other things, have earned the building an ENERGY STAR® ranking of 97 and a "Kilowatt Krackdown" award from the Phoenix Building Owners and Managers Association (BOMA) Green Building Committee...»

Goldman Sachs Group Inc. of New York City, N.Y. (NYSE:GS) continues to show confidence in the Valley real estate market with its third purchase of a Scottsdale office project this year. In the latest deal, Goldman Sachs paid $28.5 million ($264.76 per foot) to acquire the 107,645-square-foot Scottsdale Financial Center I located at 4110 N. Scottsdale Road in Scottsdale...»

 

San Diego-based Parallel Capital Partners has announced the purchase of Kierland Corporate Center in Scottsdale, Ariz. The Class A office complex traded for $20 million, being sold by Bataa/Kierland II LLC...»

 
International real estate investment, development and management firm Hines was the biggest winner of this year's BOMA Greater Phoenix's The Outstanding Building of the Year (TOBY) awards, which were presented Nov. 4 at the Arizona Biltmore...»

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