Courtney LeVinus Named Interim CEO for Arizona Multihousing Association

The Arizona Multihousing Association, the statewide trade association for the apartment industry, has named longtime advocacy partner Courtney Gilstrap LeVinus as the Interim President and CEO for the Association.  For nearly 20 years, LeVinus has worked with the AMA leading their advocacy team at the federal, state and local levels.  She’s the co-founder of public affairs…

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COMMERCIAL PROPERTIES INC., IS PLEASED TO ANNOUNCE THE ±38,300 SF SALE OF A USDA APPROVED FOOD PROCESSING FACILITY IN PHOENIX, AZ

Commercial Properties, Inc./CORFAC International. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a USDA approved food processing facility located at 1410 N 27th Lane in Phoenix, Arizona. The entire property consists of approximately 38,300 square feet and is located just off Interstate 10 and 27th Avenue near…

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NAI Horizon negotiated a long-term retail lease on behalf of the landlord for American Freight Furniture at Bell Tower Village, 4913 W. Bell Rd., in Glendale, Ariz.

The NAI Horizon retail properties team of Senior Vice Presidents Chris Gerow, Shelby Tworek and Gabe Ortega and Associate Patrick Anthon represented New Bell Tower, LLC, of Greenwood, Colo., in the transaction that totaled $1.266 million. American Freight Furniture, a discount furniture and mattress retailer, will occupy 25,700 square feet at Bell Tower Village. Anchors…

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CONSTRUCTION SPENDING HOLDS STEADY FROM APRIL TO MAY AS REPORTED DELAYS CAUSED BY SHORTAGE OF SKILLED WORKERS SPREAD AMID CONTINUING DEMAND

Construction spending in May was unchanged from April but increased from a year ago amid growing reports that contractors are struggling to find enough skilled workers to keep projects on schedule, according to an analysis of new government data by the Associated General Contractors of America. Association officials said a mixture of worker shortages and…

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Phoenix Area Needs 150,302 New Apartments by 2030 to Keep Pace with Demand Growth is Due to Aging Population, Immigration, Declining Home Purchases

An aging population, international immigration and fewer home purchases are resulting in an increased need for new apartments. The Phoenix metro area is expected to need 150,302 new apartments by 2030 to keep up with local demand, according to a new study commissioned by the National Multifamily Housing Council (NMHC) and the National Apartment Association…

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ARIZONA FORWARD ANNOUNCES PLANNED RETIREMENT OF PRESIDENT AND CEO

Arizona Forward President and Chief Executive Officer Diane Brossart announced her retirement this week, after serving at the helm of Valley Forward and then Arizona Forward, for more than 26 years. This announcement kick-starts an orderly leadership transition over the next six months. Brossart’s decision to retire, effective December 2017, will closeout a remarkable volunteer…

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The Inside Analysis on Rate Caps

Far too often, commercial real estate owners looking to hedge interest rate risk are asked to purchase derivatives and other financial products blindly. Rather than receiving transparency, borrowers are simply handed an invoice that they’re forced to pay. Unarmed to properly price hedging products and their service providers, owners overpay for many over-the-counter products.  …

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CBRE Completes $66.4 Million Sale of Two-Building Class A Office Campus in Camelback Corridor

CBRE Group, Inc. has completed the sale of Camelback Commons, a ±322,406-square-foot office campus located at 4722 and 4742 N. 24th St. in Phoenix. The two building, Class A office property commanded a sale price of $66.4 million. Barry Gabel and Chris Marchildon with CBRE’s Phoenix office represented the seller, a joint venture between California‐based…

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$217 Million in Multifamily Sales Closed in 16 Days by Steve Gebing and Cliff David

Institutional Property Advisors (IPA) announced today that Steve Gebing and Cliff David, senior managing directors, closed five multifamily property transactions totaling $217 million and 1,699 units between May 30 and June 15 in the Phoenix metropolitan statistical area (MSA). “Strong underlying macroeconomic fundamentals in the Phoenix MSA and our team’s experience aligning institutional and major…

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