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Commercial Real Estate & Business News – March 13, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

To view the March 2013 Multifamily Executive magazine, click here…

CRESCENT CORPORATE CENTER SELLS FOR $5.725M David Cavan and Cavan Real Estate Investments of Scottsdale have expanded their portfolio with their acquisition yesterday of the 109,497 ft2 Crescent Corporate Center for a sales price of $5.725M or $52.28 per ft2from Stephen J Muller and The Muller Company of Irvine, CA. The Crescent Corporate Center at 2400 W Dunlap Ave is a three story multi-tenant office located east of the northeast corner of the I-17 and Dunlap Ave in Phoenix. View article…

Hooters debuts more modern look at new Phoenix restaurant Florida-based Hooters this week opened its largest restaurant in Arizona just outside Metro Center Mall in Phoenix. The 9,200-square-foot restaurant seats 454 and includes a full bar, two pool tables, a wraparound indoor/outdoor patio, fire pit and 22 flat-screen televisions for when patrons aren’t distracted by other sights. It is at 10223 N. Metro Parkway in Phoenix. View article…

Elevation Chandler sale may face more delays A recent filing in the U.S. Bankruptcy Court’s Central District of California could have an impact on the future of the stalled Elevation Chandler project. Court documents show that Point Center Financial, owner of the 10.5-acre property northwest of the Santan/Price freeways interchange and just south of Chandler Fashion Center, filed for Chapter 11 bankruptcy protection on Feb.19. View article…

State Farm to hire at least 500 for Tempe, Phoenix offices State Farm may be keeping tight-lipped about its yet-to-be-inked plan to build a massive regional headquarters along Tempe Town Lake, but the insurance giant is open about one thing: it’s hiring in metro Phoenix. View article…

Suntech’s Goodyear closure: Here’s why it happened Suntech Power Holdings Co. Ltd. is closing the doors on its U.S. manufacturing operations, and local officials are putting the blame squarely on a tariff war against Chinese panels. The Wuxi, China-based Suntech (NYSE: STP) is closing its Goodyear plant and cutting 43 jobs. View article…

ZyTech Building Systems expands in Glendale with plans to hire 300 ZyTech Building Systems, a Canadian lumber distributor and roof truss manufacturer, is expanding its U.S. presence this month in Glendale. The Balzac, Alberta-based company eventually will create 300 jobs here as it establishes itself as a resource to home builders and commercial developers Valleywide, according to a statement issued by the city on Tuesday. View article…

The Top 10 cities for energy-efficient buildings; Phoenix No. 9 While news on the solar front could be better for the “greens” in Arizona, green building is still a big hit. Phoenix landed at No. 9 on the list of having the most Energy Star-certified buildings compiled by the U.S. Environmental Protection Agency. View article…

ACC fines Radical Bunny, Horzon Partners nearly $195M The former managers of Radical Bunny LLC and Horizon Partners LLC – the largest creditors involved in the Mortgages Ltd. debacle – were slapped with nearly $195 million in fines Tuesday by the Arizona Corporation Commission for their part in a multi-year scheme that defrauded hundreds of investors, according to a statement Tuesday. View article…

The Slow and Painful Improvement of Shopping Center Fundamentals The recovery in neighborhood and community shopping center space trudged onward during the last three months 2012. Improvements in fundamentals were minimal at best, on par with quarterly results exhibited since the retail space market bottomed. However, the sluggish recovery is far from unexpected. View article…

HOUSING:
Queen Creek gives first approvals to master-planned community The Queen Creek Town Council has unanimously given its first approvals for the 1,139-acre master-planned community called Queen Creek Station, which stalled last December by protests from nearby property owners before getting a General Plan amendment. On Wednesday, the town council approved Fulton Homes’ request to rezone about 248 acres on the west side of Ellsworth Road north of Queen Creek Road from one home per acre to three homes per acre, according to Wayne Balmer, planning administrator for Queen Creek. View article…