Commercial Real Estate & Business News – March 7, 2014
Labor Shortages, Materials Costs Plague Apartment Builders The uneven economic recovery is having an uneven effect on the price of construction. Overall, the cost of construction for apartment properties continues to rise faster than inflation, at a rate of about 2 percent to 6 percent a year, according to developers. That roughly matches the analysis […]
Commercial Real Estate & Business News – March 6, 2014
Carval Investors Acquires Pima Center Office Buildings For $50 Million A venture between CarVal Investors in Hopkins, Minn. (John Brice, CEO) and MainspringCapital Group in Scottsdale paid $50 million ($183.97 per foot) to buy roughly 272,000 sq. ft. of office space within the Pima Center mixed-use business park on the Salt River Pima-Maricopa Indian Community. […]
Commercial Real Estate & Business News – March 5, 2014
RadioShack Axes 1,100 Stores; Others May Follow Following double-digit quarterly sales declines in the fourth quarter and mounting losses year over year, Radio Shack Corp. said Tuesday it would close as many as 1,100 RadioShack stores, about 20% of its total, with the possibility of more closings in the future. CEO Joseph Magnacca says that […]
Commercial Real Estate & Business News – March 4, 2014
Freddie Mac Releases Annual Multifamily Outlook While multifamily growth will continue rolling forward, 2014 may tap the brakes a bit. Freddie Mac released its 2014 Multifamily Economic Outlook on Friday noting that rent growth and vacancy will remain positive but should slow down compared to 2013. The report states the overall health of the economy […]
Commercial Real Estate & Business News – March 3, 2014
Baron Properties Buying 260 Apartments In Peoria For $30.05 Million In a deal scheduled to close at press time, Baron Properties in Greenwood Village, Colo. (J. Jeffrey Riggs, Scott Fisher, T.J. Tarbell, principals) was expected to pay $30.05 million ($115,577 per unit) to buy the 260-unit Alta Park West apartments located at 9680 W. Northern […]
Commercial Real Estate & Business News – February 28, 2014
Leclerc Foods Adds Phoenix Facility Leclerc Foods USA, a North American cookie, snack bar and cracker manufacturer, announces the acquisition of a 166,500-square-foot building in the Freeport Business Center for expansion of its operations in Phoenix. The building is located at 440 S. 51st. Ave. Resulting from an investment of nearly $50 million… Read more […]