Commercial Real Estate & Business News – April 11, 2014

Hines Planning $150 Million Mixed-Use Project Near Chandler Fashion Center

Hines Interests Limited Partnership in Houston, Tex. (Gerald Hines, principal) is planning to develop a $150 million residential, office, retail and hotel complex next to the Chandler Fashion Center regional mall. Hines has filed a zoning application in Chandler for the upscale mixed-use project. If approved, Chandler Viridian will be developed on a 25.6-acre site being assembled along the west side of the 101 Loop (Price Road Freeway) and just north of the 202 Loop (San Tan Freeway)… Read more

De Rito Land Development Planning 600,000 Sq. Ft. Of Retail Space In Four Centers

Very few retail buildings have been built in the Phoenix area over the past few years, but that trend may be changing as 600,000 sq. ft. of space is planned in four shopping centers in the Southeast Valley alone. De Rito Land Development LLC in Phoenix (Jerry Friedman, Doug Himmelberger, Marty De Rito, principals) is under contract to acquire properties in Chandler, Gilbert, Queen Creek and Pinal County to develop the centers. De Rito Land Development is buying 82 acres of retail sites in four deals totaling around $21.5 million. The parcels range in size from 15 to 27 acres. All of the projects have 2015 targeted construction starts… Read more

Office Market Continues to Gain Momentum

First quarter office sector studies show that in most of the nation’s office markets, rather than just in the top cities, landlords are gaining the upper hand. About 70 percent of U.S. office markets reported occupancy gains during the first quarter… Read more

Just What the Doctor Ordered: New ‘Medtail’ Tenants Filling Vacant Shopping Center Space

Changing Medical Economics Prompting Caregivers to Offer Services Where Patients Shop. With the era of retail medicine fast approaching, health care providers and medical specialists are increasingly opening facilities in shopping centers, which offer an attractive combination of affordable space, good patient access and ample parking… Read more

Family Dollar to Close 370 Stores

Family Dollar has more than 40 stores in the Phoenix area, but isn’t specifying which stores in Arizona or elsewhere will close… Read more