Renaissance Square Renovation
Helps Attract Major Law Firm
Cantor Law Group inked a 24K SF lease in the two-building Renaissance Square in Downtown Phoenix. The owner's ongoing $50M renovation of the property was an important factor in the deal.
In April, the property's owner, a JV between Cypress Office Properties and funds managed by Oaktree Capital Management, kicked off the $10M first phase of renovation at Renaissance Square. The initial phase will include upgrades to building lobbies, elevators and restrooms,…
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Chicago Investor Snaps Up Hyatt Regency Phoenix For $107M
Gem Realty acquired the 693-room Hyatt Regency Phoenix hotel in Downtown Phoenix, adjacent for the Phoenix Convention Center. The buyer paid $107M to California-based DiNapoli Capital Partners for the property, one of the largest hotels in the city. DiNapoli bought it…
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Phoenix Buyer Expands Its Local Apartment Portfolio With Desert Gardens II Acquisition
ReNUE Properties, which is in the midst of expanding its portfolio within its home state of Arizona, acquired the 225-unit Desert Gardens II, an apartment property in Phoenix, for $23M. The seller was a local LLC, Desert Gardens VI.
Desert…
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Experiential Retail Reinvigorates Malls
The plight of the shopping mall, once an entertainment destination, communal congregating point and convenient locus of shops, has been widely publicized. But the broad portrayal of all shopping malls as in decline or obsolete is at best misleading, and…
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Phoenix No. 3 For Tech Job Growth, According To ZipRecruiter
Tech talent is experiencing a diaspora, according to Money magazine, driven by less-certain job prospects in Silicon Valley and high rents there and in other other coastal tech hubs. Job search site ZipRecruiter crunched its database of more than 8…
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Anbang Turmoil: The Chinese Insurer Was Still Buying Up Global Real Estate In May But That Could Be Over
Chinese insurer Anbang, whose chairman has stepped down amid reports he has been detained, was still a major buyer of global real estate as recently as last month. But now it may be facing a liquidity problem that will send it falling out of power.
The company has made a name for itself in the real estate world with a series of blockbuster deals in the U.S. and Europe, spending $8B in a little more than two years, according to data from Real Capital Analytics.
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Pre-Leases For Warehouse Space Under Construction Reach New Highs
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