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Activity in the Phoenix market returned this week with strong sales and leasing activity and third quarter reports showing the strength of the market. Apartment sales dominated in the Phoenix market this week, however, the star transaction was a two-property Hyatt Hotel portfolio that traded hands for $305 million. A quarterly report from CBRE shows that there is also growth in the office sector, although there were no specific sales to report for the week. The office sector has seen tremendous growth this year, and the report expects the market to perform strongly through the end of the year. The Phoenix market isn’t the only second tier market to see a bump in activity. As pricing increases in primary markets like San Francisco and Los Angeles, investors are also heading to the Inland Empire, where employment growth is spurring office, retail and multifamily demand. That isn’t to say activity has declined in other markets. This week saw significant sales in Los Angeles and San Diego as well. Here’s a look at this week’s trends, announcements and deals that you may have missed in Southern California, Utah, Arizona and Nevada.

BY THE NUMBERS

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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