Commercial Real Estate & Business News – September 27, 2016

The U.S. property market landscape in 2017 will be characterized by continued strong fundamentals, increased investor flows and high transaction volume. As for the economic landscape, the U.S. continues to grow moderately and add jobs. The U.S. employment gains continue to be strong, with unemployment dropping below 5.0 percent earlier this year, and adding to demand for housing in a variety of forms, for office space, for the retail sector and for industrial/distribution facilities...»
The $100 + million project, being called City Center on The Park, is planned for a portion of the 32.5-acre Margaret Hance Park that stretches across the top of Interstate 10 deck park tunnel through downtown Phoenix from 3rd Street to 3rd Avenue...»
The Andaz Scottsdale Resort & Spa at 6142 N Scottsdale Road, near Rose Lane, is set to open in November. But if you're driving along Scottsdale, you won't see it - you'll see the Enclave at Borgata, the 86-unit luxury development that has units priced between $800,000 and $3 million...»

Called Block 23, the area is located between First and Second Streets, and Washington and Jefferson Streets. The empty lot was government property since 1874, and proponents of the project say the development will earn tax revenue for Phoenix and create new jobs. RED Development plans to create 300 high-rise residential units, 150,000-square-feet of office space, 1,000 parking spots and 50,000-square-feet of retail space including the proposed grocery store, according to the proposal...»

The property at 3080 N. Civic Center Plaza was built as a church in 1958. It became an office building in the early 1980s but has been vacant for several years. Previous re-purposing plans never happened...»

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