Commercial Real Estate & Business News – August 18, 2014

The West’s Most Developable Town

Valley Partnership has announced the topic for its upcoming monthly breakfast on Friday, Aug. 22. This month?s program will feature an update on current real estate conditions in Scottsdale, Ariz. Panelists will discuss what?s been happening in ?The West?s Most ?Western? Town? as well as future opportunities for the commercial real estate and development community… Read more »

Office Market Taps Brakes for Summer

Xceligent’s second quarter market reports are out and Phoenix fundamentals are looking healthy, with a few exceptions. As expected, on the office side, the Phoenix market tapped lightly on the brakes as it turned toward summer. Fueled by positive gains in the I-17 Corridor and Southeast Valley areas, the market absorbed just over 100,000 square feet, primarily in class B product bringing the year-to-date total to just over 600,000 square feet… Read more »

Arizona’s Biggest Companies Faring Well

A couple hundred public corporations call Arizona home. They operate in a range of industries including retailing, technology, homebuilding and power generation. But only about three dozen have critical mass, with a stock-market value above $200 million. Most of these larger firms are profitable, and most have seen their stock prices recover from the bear market… Read more »

Glimcher Breaks Ground on 170KSF at Scottsdale Quarter

Glimcher Realty Trust has broken ground on Block M at Scottsdale Quarter, a six-story, approximately ±170,000 SF Class A, mixed-use building in North Scottsdale, Ariz. Located at the southeast corner of the high-end lifestyle center, the new tower will feature premier office space, above ground-floor retail plus an additional parking garage for both tenants and visitors. The tower is expected to deliver in the summer of 2015… Read more »

So. Calif.-Based Investor Buys 385-Unit Phoenix Apartment Project For $34.265 Million

A company formed by CVG Properties Inc. paid $34.265 million ($89,000 per unit) to purchase the 385-unit Villa Encanto apartments located at 4315 E. Thunderbird Road in Phoenix. The seller was El Dorado Villa Encanto LLC, a company formed by El Dorado Holdings Inc. in Phoenix… Read more »