Low Rates Boost REITs, Commercial Real Estate Stocks
As interest rates hover near recent lows, and investors search for anything with yield, commercial real estate is finding its footing yet again, outperforming the broader U.S. stock market. Stock exchange-listed U.S. equity real estate investment trusts were up 16.25 percent… Read more »
Old Resort Site To Feature Multimillion-Dollar Homes
New homes soon will go up on the former site of the Mountain Shadows resort in Paradise Valley. Cullum Homes plans to build 40 multimillion-dollar houses on the eastern edge of the 68-acre site at 56th Street and Lincoln Drive. The $100 million development is called the Village at Mountain Shadows… Read more »
Sprouts Posts Whopping 141 Percent Bump In Profit On Healthy Sales
Sprouts Farmers Market (Nasdaq: SFM) saw its net income jump more than 140 percent on a healthy bump in sales. The Phoenix-based grocery chain, which went public a year ago, reported net profit of $30.2 million, up from $12.5 million the previous year. That equates to an approximately 141 percent increase… Read more »
Video Game Pioneer Buys Phoenix Business Park For $13 Million
Nima Taghavi?s BKM Capital Partners has acquired a 15-building office park in Phoenix for $13.1 million. The Black Canyon Business Park is located at Interstate 17 and Northern Avenue. The complex was only 34 percent leased at the time of the sale. Taghavi is a principal with Irvine, Calif.-based BKM along with CEO Brian Malliet. Taghavi has also been a key figure in the video game industry… Read more »
Property Values Hold Steady in July
Commercial property prices remain strong as interest rates remain low, according to Green Street Advisors Inc. The independent research, trading and consulting firm reports that its commercial property price index was unchanged in July, staying on the same robust track it has been on for several months. Values are now at or above 2007 highs in nearly every major property sector… Read more »
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