Here are the news articles you might find interesting today for commercial real estate and business:
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EQR CONCLUDES FIRST QUARTER WITH SALE OF 13TH MULTI-FAMILY ASSET IN THE VALLEY FSC Morningside Associates LLC, a company formed by FSC Realty Inc. in Beverly Hills, Calif. (Stanley Fimberg, Albert Baril, principals), paid $21.6 million ($135,000 per unit) to buy the 160-unit Morningside apartments at 10455 E. Via Linda in Scottsdale. The seller was Evans Withycombe Finance Partnership L.P., a limited partnership formed by Equity Residential Trust in Chicago, Ill. (NYSE:EQR, David Neithercut, CEO). View article…
Cassidy Turley Completes 42,000 SF Lease for Valley Pallet Cassidy Turley Arizona completed the lease of a 42,000-square-foot building on 4.5 acres at Buckeye Industrial Center II, 5707 W. Buckeye Rd. in Phoenix. Valley Pallet, Inc. leased the north building at Buckeye Industrial Center, II, which includes 4,160-square-foot office, 16,000-square-foot canopy, multiple truck wells and a fenced yard. View article…
Domus infill project will offer upscale residences near Arcadia Another infill project is under construction in central Phoenix near the Arcadia neighborhood. The multifamily project, named Domus, will have 225 units on a six-acre site at 36th Street and Campbell Avenue. Units will feature “generous” use of glass and structural steel, developers said. View article…
Safari Drive residents worry about sale of Phase II land in Scottsdale Residents of the Safari Drive condominium complex in downtown Scottsdale were told recently that ST Residential plans to sell the property that would house a second, larger phase. In fall 2011, the City Council approved ST Residential’s proposal for the second phase of the complex, including amended development standards under the city’s downtown infill-incentive district and plan. View article…
Tempe apartments on rise along with Tempe economy A 19-story apartment building across from Sun Devil Stadium, that could be home to nearly 700 by fall, is among the new developments giving rise to increased optimism about Tempe’s economy. Hub on Campus, a high-rise just east of Mill Avenue near a Marriott Residence Inn that is under construction, is geared toward Arizona State University students. View article…
American Realty Capital-Cole takeover battle growing uglier The takeover battle between American Realty Capital Properties Inc. (Nasdaq: ARCP) and Phoenix-based Cole Credit Property Trust III that ensued two weeks ago is quickly going from lively to ugly. American, a New York-based real estate investment trust, sweetened its offer to buy Cole III for the second time on Tuesday, while at the same time laying into the Phoenix REIT for purportedly being unresponsive yet again to its unsolicited proposals. View article…
Banner Health Center in Gilbert on track for May opening The first phase of the 64,000-square-foot Banner Health Center in Gilbert is nearing completion and is on target for a May 22 opening, bringing primary medical care to a long-vacant parcel at Gilbert and Warner roads. View article…