Commercial Real Estate & Business News – April 22, 2014

Changing Market Creates New Challenges For Corporate Real Estate Advisers

As the global marketplace evolves faster than ever before, corporations are viewing their real estate holdings as an increasingly important factor in their profitability and strategic growth. Many directors and managers who advise corporations on their real estate decisions are experiencing this shift… Read more

City Of Phoenix Tries To Bring New Life To Metrocenter Mall

The city of Phoenix is trying to save one of the Valley’s aging shopping malls. It has approved a plan to revitalize Metrocenter and surrounding neighborhoods in northwest Phoenix. Anyone who has lived in the Valley for a long time probably remembers the excitement when Metrocenter opened more than 40 years ago. It was promoted as the largest shopping mall in the country… Read more

Walk-In Urgent-Care Companies Are Providing Relief to Retail Landlords

People with relatively minor health problems – say, the flu or a deep cut – aren’t the only ones getting relief from growing walk-in “urgent care” companies such as CityMD and PM Pediatrics. These companies also are providing a little tonic to retail landlords. In the last four years, more than 20 of these centers have opened in the New York region, offering a no-appointment alternative to the emergency room or doctor’s office… Read more

DeRito and Van Tuyl Buy Big in Arcadia Lite

The neighborhood shopping center at the southwest corner of 32nd Street and Indian School Road sold yesterday in two transactions totaling $16.75m. Currently anchored by Bashas-subsidiary Food City as well as an AMF Bowling Alley, the 155,634 ft2 shopping center sits on 13.09 acres at the intersection of two major arterial roads… Read more

Refi Arranged for Mesa-area Apartments

Johnson Capital has arranged an $8.9 million loan for a multifamily property located in Mesa. The property, Sandstone Apartments, contains 234 units and was completed in 1985 on 8.69 acres located at 1727 W. Emelita Avenue. The multifamily property has a swimming pool, basketball court, two laundry facilities and a standalone rental office with fitness facility… Read more