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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Phoenix Outpaces Nation in Construction Cost Increases

By Corina Vanek | Phoenix Business Journal The United States experienced the largest quarter-to-quarter increase in construction costs from the first quarter of 2021 to the second, according to Rider Levett Bucknall’s quarterly cost report, which has been studying changes in construction costs for about 20 years. As a whole, the U.S. saw a 2.9% …

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Scottsdale-Based Company Enters Into Build-to-Rent Joint Venture

By Angela Gonzales | Phoenix Business Journal Two firms that are entering the build-to-rent sector have formed a joint venture to build several projects together. Scottsdale-based Walton Global Holdings USA and Phoenix-based SVN | SFR Capital Management plan to build and operate these communities nationwide. These homes will be built within Walton Global Holdings’ existing …

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Developer with Offices in Scottsdale Building Luxury Rentals in Mexico

By Angela Gonzales | Phoenix Business Journal A Spanish developer with offices in Scottsdale is building a luxury vacation rental community in Rocky Point. The 31-unit condo property called Eagle Village at Islas Del Mar is a project of Adlanto, an asset management company with offices in Spain, Argentina, Mexico and in Arizona. The company …

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Ohio Couple Camps Out in Airbnb While Waiting for a Phoenix Home

By Angela Gonzales | Phoenix Business Journal The Phoenix housing market is crazy hot right now — just ask an Ohio couple currently camping out in an Airbnb as they lose bid after bid on their dream home. In May, when the couple arrived in Phoenix to look for a home and find new jobs, …

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40 Under 40 Winner Left Germany to Renovate Homes in the Valley

By Michael McDaniel | Phoenix Business Journal Patrick Niederdrenk and (SAAR 40 Under 40 winner) Maximilian de Melo conceived the idea of launching a boutique real estate brokerage in 2014 while they were vacationing in Arizona. The German golfers and entrepreneurs saw the Grand Canyon State as a great frontier of development. As entrepreneurs, they …

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Out-of-State Buyers Gobble Up Phoenix Retail Centers

By Brandon Brown | Phoenix Business Journal As the pandemic subsides, investors – many from out of state – are swooping in and buying up retail real estate properties across the Phoenix area. In the early days of the pandemic when retailers and restaurant owners saw revenue dry up and couldn’t pay rent, no one …

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Scottsdale Real Estate Tech Startup Raises $35M for New Growth Phase

By Andy Blye| Phoenix Business Journal Jay McKee, founder and CEO of Lessen in Scottsdale, has high hopes for his young company. “I think we’re going to build a brand that people know about in five generations, I really do. And I want it to be here in Arizona,” he told the Business Journal. “We’ll …

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Scottsdale Real Estate Investor Goes Big in Build-to-Rent Market

By Angela Gonzales | Phoenix Business Journal A Scottsdale-based international real estate asset management company that owns 81,000 acres nationwide is making a big play for the wildly popular build-to-rent home market. Walton Global Holdings — which last year moved its headquarters to Scottsdale from Calgary, Canada, where it was founded more than 40 years …

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‘Get Your Nest’ Home Buying App Launches in Scottsdale

By Angela Gonzales | Phoenix Business Journal The Valley’s hot housing market is creating a buzz among residential real estate brokers, and more brokerages are expanding to metro Phoenix as a result. New York-based Real Brokerage inc. and Virginia-based Nest Realty are among those setting up shop in the Valley, while a local brokerage called …

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