Iconic Arizona Biltmore Resort in Phoenix Sold for $403 Million The Arizona Biltmore, the historic Phoenix resort that had hosted every U.S. president since Herbert Hoover until Barack Obama broke the streak, has been sold for $403.4 million. The 740-room resort near 24th Street and Missouri … [Read more...] about Commercial Real Estate & Business News April 24, 2018

Main Insights from ULI's Semi-Annual CRE Forecast ULI's survey respondents predict that this year U.S. GDP growth will reach 2.8 percent, up from the 2.3 percent growth seen last year. Real estate economists and analysts see strength in the U.S. economy over the next few years, which should … [Read more...] about Commercial Real Estate & Business News April 23, 2018

Largest Banks Casting Wary Eye on Heated Commercial Real Estate Lending Market Despite record liquidity, demand for commercial real estate loans softened in recent months, leaving eager lenders chasing fewer borrowers. As a result, competition among lenders has ratcheted up noticeably with loan … [Read more...] about Commercial Real Estate & Business News April 20, 2018

New $100 Million Apt. Tower Coming to Downtown Phoenix North American Development Group will break ground later this year on a new 30-story luxury multifamily tower that, upon, completion, will stand as the second tallest residential building in downtown Phoenix.  The Markham, Ontario-based firm … [Read more...] about Commercial Real Estate & Business News April 19, 2018

Competition Intensifies for Value-Add Assets For the past several years, investors have turned to the value-add strategy when seeking out-performance in a competitive commercial real estate landscape. And it appears the interest in these type of deals has only intensified lately, with competition … [Read more...] about Commercial Real Estate & Business News April 18, 2018

Aldi in Arizona: Discount Grocer Opening Store in Buckeye BUCKEYE, AZ - No-frills grocer, Aldi, has plans to open a store in Buckeye, Arizona. Anne De Chance, communications manager for the City of Buckeye, said the discount grocery chain broke ground last week near Yuma and Watson roads. She … [Read more...] about Commercial Real Estate & Business News April 17, 2018