Daily News for Commercial Real Estate & Business – December 17, 2010
Local Developer Plans 13-Acre Theater Redevelopment A local developer has acquired a 74,000-square-foot movie theater in central Tucson with plans to redevelop the property into 140,000 square feet of new commercial space. Michael R. Wattis Inc. paid Plano, TX-based Century Theaters $2.76 million in cash for Century Park 16, which sits on 12.7 acres at […]
Daily News for Commercial Real Estate & Business – December 16, 2010
To view this weeks “The Watchlist” by Costar, click here. Chevron USA Sells Oil Terminal, Land for $10.7M Kinder Morgan, Inc. has purchased a 10,000-square-foot oil terminal at 5110 W. Madison St. in Phoenix, AZ, along with 9.69 acres of land at 3865 E. Refinery Way in Tucson, AZ, from Chevron USA, Inc. for approximately […]
Daily News for Commercial Real Estate & Business – December 15, 2010
To view the December 2010 inBusiness magazine, click here. Document Management Firm Inks 139,070-SF Deal As part of its acquisition by 2-20 Records Management LLC, Arizona Records Storage Center LLC is expanding its local presence with a 139,070-square-foot lease at Papago Distribution Center Building Two. View article… Goodwill Leases 20,000 SF In Phoenix Goodwill has […]
Daily News for Commercial Real Estate & Business – December 14, 2010
To view the Wells Fargo Annual Economic Outlook 2011, click here. I have highlighted a few areas that I found interesting. Tempe hoping to create $160 million streetcar system A three-year study aimed at improving transportation options south of the light rail line has culminated in a plan to fund a $160 million streetcar-transit project […]
Daily News for Commercial Real Estate & Business – December 13, 2010
120-Unit Glendale Multi-Family Changes Hands A private investor has purchased Maryland Gardens, a 120-unit apartment complex located at 4529 W. Ocotillo Rd. in Glendale, AZ for $4.3 million, or $35,800 per unit. The price represents an actual capitalization rate of 5.8 percent. The seven-building, 88,896-square-foot complex was built in 1983 on four acres in the […]
Daily News for Commercial Real Estate & Business – December 10, 2010
$1.6 million awarded in Scottsdale land-use suit A battle over responsibility for a failed commercial development in north Scottsdale involving allegations of fraud, bad faith and breach of contract was resolved last week when a jury ordered defendant First American Title Insurance Co. to pay the plaintiff companies, the Equitable Troon H LLC and the […]