Commercial Real Estate & Business News – April 14, 2014

New Industrial Park in Gilbert

The project known as Park Lucero is located on 48.1 acres at the northwest corner of Mustang Drive and Germann Road near the Chandler/Gilbert border. The site has frontage along the Loop 202 freeway and Germann Road and is directly adjacent to more than one million square feet of retail amenities. Construction will begin summer 2014… Read more

Phoenix Developer on Mission to Save Historic Buildings

For more than 20 years, he has returned numerous warehouses to commerce, including those that now house the Bentley Gallery at Bentley Projects and the Duce restaurant, bar and clothing store. In a city where demolishing deteriorating structures has been the norm, Levine became one of the first to start buying old buildings for the sole purpose of preserving and transforming them… Read more

Cities Where Real Estate Investors are Finding Deals

Investors are draining out of formerly foreclosure-torn cities like Phoenix and Las Vegas, but that doesn’t mean they’re abandoning real estate altogether. Instead they’re relocating to cheaper, less competitive locales, a trend that’s expected to continue… Read more

ULI Special Report: Smart Moves for Smart Capital

While institutional capital isn’t necessarily known for its flexibility and innovation, an environment of accelerating change in business conditions has some companies adjusting their strategies for securing high yields while minimizing risk. A panel of industry innovators met this Thursday at ULI’s Spring Meeting in Vancouver to discuss their approach for making winning bets in today’s market… Read more

Economy Watch: Initial Unemployment Claims Lowest in 7 Years; Import Prices Rise, Led by Energy

For the week ending April 5, initial unemployment claims came in at 300,000, a sharp decrease of 32,000 from the previous week’s revised level, according to the U.S. Department of Labor on Thursday. The last time initial claims were this low was well before the recession – May 12, 2007 – when they stood at 297,000. The four-week moving average, which tends to be less jumpy, was in fact a little jumpy last week, decreasing 4,750 from the previous week’s revised average… Read more