Commercial Real Estate & Business News – November 15, 2016

 
The Coyotes and Arizona State University are taking the first step in the possible construction of a 16,000-plus seat arena at the northwest corner of McClintock Drive and Rio Salado Parkway on Karsten Golf Course...»
 
PhoenixMart is going vertical at last. Dogged by inexplicable delays, a canceled construction contract, C-level executive turnover and an FBI investigation, the largest development in Pinal County is finally under real and visible construction...»
It's a good time to open a restaurant franchise, even if Arizonans just voted to hike the minimum wage. "Franchising as a business model has moved past the recession in terms of the availability of financing for both franchisors and small business owners," said Jeff Wolf, partner at Quarles & Brady LLP, which handles franchise litigation. "There was a point in time where franchising was slow to none because of the lack of financing. I don't know how unique it is to Phoenix, but it certainly is something that's triggering a lot of franchise sales"...»
 
Those in the apartment industry are trying to get a beat on how the economy might look, with its effects on the U.S. job market and the atmosphere for investments. Jobs are sure to be a focal point, as one major factor in Trump's victory was that his message about job creation resonated with blue-collar workers in the Rust Belt who have voted Democratic in the past...»
 
The past few years have been extremely favorable to the multifamily market. Developers are building apartments to catch up on a lull of construction over previous years in a race to complete projects and capitalize on continuously rising rents. Investors are aggressively seeking opportunities to purchase multifamily properties, specifically core and value-add assets in top-tier markets, pushing cap rates as low as 4%...»

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