LEE NEWS-2017

Changing the skyline: Arizona Center to get 31-story residential tower in downtown Phoenix
A 31-story residential tower will replace the Arizona Center’s grassy lawn in downtown Phoenix, according to plans announced Tuesday.

AZ CENTRAL

LOCAL NEWS
Arizona Center names residential developer for 31-story tower.A Florida developer is buying land at the Arizona Center in downtown Phoenix with plans for a 31-story, $100 million apartment tower.
AZ REAL ESTATE MAGAZINE
Goodbye New York, Hello Arizona
Financial jobs in the US have finally rebounded but they’re not growing where you might think.
BBC.COM
Phoenix could be in the mix for giant warehouses from Amazon
Amazon is building at least four massive warehouses to fulfill and deliver bulky products as it pushes harder into the fast-growing online furniture market, the Wall Street Journal reported Friday.
PHOENIX BUSINESS JOURNAL
Arizona ranked No. 9 in Chief Executive’s best states for business
Advancing three places from a year ago, Arizona was ranked as the No. 9 state for business in Chief Executive magazine’s 13th annual Best & Worst States for Business survey, AZ REAL ESTATE MAGAZINE
Existing home sales highest since 2006; up 18% over year ago
Sales volume for existing homes in the Valley is at its highest level since 2006 — before the last crash and recession — and is up 18 percent versus last year. PHOENIX BUSINESS JOURNAL
NATIONAL NEWS
Latest Readings Show Commercial Property Prices Continuing to Moderate
Commercial real estate prices remain flat according to the most recent readings from three major indices.
NATIONAL REAL ESTATE ONLINE
Resilient Big-Box Tenants Positioned to Back-fill US Power Center Vacancies.Off-Price Apparel, Home Improvement Chains Remain a Bright Spot in Challenging Large-Format Retail Landscape COSTAR.COM
Shades of 2008 hang over London real estate.What does $228tn buy? All the world’s real estate, according to agents at Savills. But given signs of stress in global property markets, deep-pocketed buyers had better be careful.
FINANCIAL TIMES

Contact Marc T. Pierce