The City 15 apartment complex near Camelback Road and 15th Street has been sold for $10.9 million.

The City 15 apartment complex near Camelback Road and 15th Street has been sold for $10.9 million.

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Despite some healthy submarkets, the overall office vacancy rate in greater Phoenix stubbornly remains above 20 percent.

Despite some healthy submarkets, the overall office vacancy rate in greater Phoenix stubbornly remains above 20 percent.

Phoenix rent and occupancy rates up and holding

Phoenix rent and occupancy rates up and holding

Rendering for artHAUS being developed in midtown Phoenix.

Rendering for artHAUS being developed in midtown Phoenix.

Diners queue up for lunch at Ají Mobile Foods at the ASU Food Truck court in Tempe.

Diners queue up for lunch at Ají Mobile Foods at the ASU Food Truck court in Tempe.

A new America Dream has emerged in recent years. It is based on social and cultural diversity and the idea of community. This dream is more about great streets than highways. You can drive if you want, but you can also walk, ride a bike, take transit, or join carshare. In this dream, the things you are connected to are more important than who you are separated from.

A new America Dream has emerged in recent years. It is based on social and cultural diversity and the idea of community. This dream is more about great streets than highways. You can drive if you want, but you can also walk, ride a bike, take transit, or join carshare. In this dream, the things you are connected to are more important than who you are separated from.

11-45 West Jefferson, Phoenix, AZ, 85003 - Street Retail Property for Lease on LoopNet.com

11-45 West Jefferson, Phoenix, AZ, 85003 - Street Retail Property for Lease on LoopNet.com

(Photo Courtesy of Lisa Parks)

(Photo Courtesy of Lisa Parks)

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