Phoenix Office Investment Nears Prepandemic Levels

By Corina Vanek | Phoenix Business Journal After office investment plummeted in 2020, the first half of 2021 showed that Phoenix was nearing the volume of office investment the market saw before the pandemic arrived. According to data from the CBRE team of Barry Gabel, Chris Marchildon and Will Mast, in the first six months …

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Out-of-State Investors Bullish On Metro Phoenix Apartments

By Angela Gonzales | Phoenix Business Journal Out-of-state investors are swooping into town to pay big bucks for apartments as the landscape gets even more competitive. Salt Lake City-based Millburn & Co. paid $178.5 million for the 832-unit Heritage at Deer Valley, making it the highest sale price for a single multifamily community in Phoenix …

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Commercial Investments Dip 20 Percent in Phoenix Metro

By Corina Vanek | Phoenix Business Journal Despite a surge in the fourth quarter, the COVID-19 pandemic caused a significant decline in real estate investment in the Phoenix metro in 2020, which saw a 20% decline from the previous year. In total, investment reached $9 billion in 2020, with the lion’s share of the money, …

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Foreign Real Estate Investment Grows in Phoenix

By Corina Vanek | Phoenix Business Journal Investment from foreign firms fueled more than $1 billion worth of real estate transactions in Phoenix during 2019, including the city’s two largest office sales. According to CBRE data, the late-2019 purchases of the Biltmore Center for $212 million by Switzerland-based Partners Group and the $190 million purchase …

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Here’s How the Valley’s Office Market Shapes Up in 2020

By Corina Vanek | Phoenix Business Journal The Valley’s office vacancy rate continued to fall during 2019, reaching 14% by the end of the year, even as the region saw the most new office construction since the end of the Great Recession. Sean Spellman, senior vice president with CBRE in Phoenix, said 2.4 million square …

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