Commercial Real Estate & Business News – July 15, 2015
Best Buy / Dick’s Sporting Goods Anchor Transacts at Fiesta Mall The 95,000 square foot Best Buy / Dick?s Sporting Goods anchor at Fiesta Mall in Mesa sold Wednesday for a price of $5.9 million, or $62 per square foot. Macerich previously purchased this property for $16.05 million in early 2007. The prior sale included […]
Commercial Real Estate & Business News – July 14, 2015
Pasternack Expands Industrial Park Along I-10 Corridor…?Ten? Now 214 Acres Valley developer and architect Irwin Pasternack has acquired land along the Interstate 10 corridor in west Phoenix that will be developed as part of a 214-acre mixed-use industrial park called ?TEN?. Pasternack, whose company already owns 142 acres that surrounds the newly-acquired land, paid $7.7 […]
Commercial Real Estate & Business News – July 13, 2015
Office Rents Show Strong Growth in Q2, Thanks to New Jobs Preliminary reports for the second quarter show that office rents are experiencing strong, steady increases in most U.S. markets due to a lack of new construction and renewed hiring in the professional services sector. Experts say this trend should continue as long as current […]
Commercial Real Estate & Business News – July 10, 2015
Retail Expansion Translates into Net Lease Construction Demand for newly-constructed net lease assets is fierce, and these assets are commanding a pricing premium in the net lease space due to their scarcity. However, as retailers execute their expansion plans, experts anticipate more new retail net lease properties to become available… Read more » CCIM Members Report Lower […]
Commercial Real Estate & Business News – July 9, 2015
PA of Michigan Assembling Central Phoenix Site for “Liv Sixteenth” Project Investment Property Associates LLC (IPA) is assembling an infill site north of Camelback Road along the west side of 16th Street in central Phoenix that is expected to be redeveloped as several hundred housing units. The 13-acre assemblage is comprised of two properties and […]
Commercial Real Estate & Business News – July 8, 2015
Olen Properties Picks Up Gilbert Apartment Project In $38.3 Million Purchase After sitting on the sidelines for 15 years following its first multi-family purchase in the Valley, Olen Properties Corp. took all of three weeks in between its second and third apartment investments in the Phoenix area. In its most recent deal recorded July 6, […]