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Commercial Real Estate & Business News – April 30, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

To view the May 2013 edition of Commercial Property Executive, click here…

To view the Wells Fargo report, “Are Cap Rates Means Reverting?“, click here…

366-Unit Apartment Complex Planned for San Tan Village An entity formed by San Diego-based Cisterra Developed acquired a 16.149 acre parcel for $5,623,655 or $7.90 per SF. Buyer contact is Mr. Joseph B Tyson, principal of Cisterra. Seller’s included LeSueur Investments, C. Dennis Barney, and Jay Anderson of Famcor. The LeSueur’s have owned a larger assemblage in the area dating back to the early 90’s. View article…

LA Buyer Nabs 20 Acres M&I Regional Properties LLC, based in Milwaukee, sold 19.5 acres in what is known as Riverview Point, a 250-acre, mixed-use development. The buyer involved in the $2.72 million short sale was Montana Avenue Capital LLC of Los Angeles. View article…

Kyrene district considers land sale in west Ahwatukee Kyrene School District is considering selling an 11-acre plot in west Ahwatukee to shore up sagging finances. The parcel at Chandler Boulevard and 15th Avenue will be sold or leased by the district, which faces an $8.9 million budget shortfall for next school year. View article…

Basis plans new charter in east Mesa Basis, a top-ranked chain of college-prep charter schools, will open a new school at the former General Motors Proving Ground in far east Mesa in August. But few of its students – at least initially — are expected to come from the surrounding neighborhoods, which are part of a high-end development called Eastmark. Homes there will go on sale June 1. View article…

Dollar Tree Leases 10,000 SF in Mesa Dollar Tree discount stores signed a ten-year lease for about 10,000 square feet in the retail center at 4425 – 4565 E. McKellips Rd. in Mesa, AZ. The single-story strip building totals 29,620 square feet in the 309,306-square-foot Falcon Gateway community center. Brown Group developed the property in 2004. Other tenants include Aaron’s, Walmart, and Staples. View article…

Z’Tejas creating Taco Guild concept in old Phoenix church Scottsdale-based Z’Tejas will debut a new restaurant concept in an old church this fall as part of a new midtown Phoenix project. The new Taco Guild restaurant concept will be part of Old School 07, an infill redevelopment project from Cassidy Turley at the corner of 7th Street and Osborn Road in Phoenix. View article…

What CoreLogic’s acquisition of Case-Shiller means for housing research “What’s my home worth?” is a question of incredible economic importance these days – and one that independent housing researchers have been fighting tooth and nail to answer most accurately. That industry, however, has become somewhat less competitive with CoreLogic’s recent acquisition of Case-Shiller, its biggest competitor, from Fiserv Inc. View article…

New Listing:
FOR SALE: Single Tenant Net Leased Investment in Glendale, AZ Here is an opportunity for an investor looking for a single-tenant, net-leased (STNL) property in Glendale, AZ.

List Price: $750,000 / Cap Rate: 7.8% / Built in 1974

For more info, click here…