Commercial Real Estate & Business News – September 25, 2015

Why Economic Growth in Phoenix is Faring Better than What the Latest Data Show

“There’s a lot more behind those numbers,” said Dennis Hoffman, director of the L. William Seidman Research Institute in the W.P. Carey School of Business at Arizona State University. “If you look closely at overall trends, you find that job growth is a better predictor of GDP growth than waiting nine months for last year’s data"... Read more »

Could Salt River Sites Be in the Mix for a New Suns Arena, New D-backs Ballpark?

There is also speculation and even some mythical blueprints for a new D-backs ballpark and new arena for the Suns — and even possibly the Arizona Coyotes — on the Salt River Pima-Maricopa Indian Community next to Scottsdale... Read more »

Luxury Apartments Coming to Downtown

Capital Place, the $50 million apartment complex now underway, is accepting pre-leasing agreements at yourcapitalplace.com. Florida-based Epoch Residential is developing the 1.87-acre site on the corner of Washington and 11th Street at 1012 E. Washington St., and the 1.92-acre site on the corner of Washington and 12th Street at 11 S. 12th St., into 11 Capital Place and 12 Capital Place respectively. Both are adjacent to the 12th Street light rail stop... Read more »

Private Student Apartment Development Next to ASU Sells for $56.8 Million

The Gateway at Tempe complex was built in 1998 and has 288 units. The three-story building is right next to ASU’s campus and can accommodate 918 students... Read more »

Grocery Chain Haggen is leaving California, Nevada and Arizona

Haggen Inc. is leaving California after a dramatic expansion gone wrong forced the grocery chain to file for bankruptcy protection this month. The Bellingham, Wash., company said Thursday that it is closing all its stores in the state as part of a larger exit of its Pacific Southwest holdings, including in Arizona and Nevada. That would affect at least 100 outlets, with 67 in California. That follows the closure of 27 stores announced last month, including 16 in the Golden State... Read more »

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