Commercial Real Estate & Business News – August 2, 2013

Rents in a handful of top warehouse distribution markets posted year-over-year rent gains of 5% or more in the second quarter, virtually unheard of in the staid property sector more accustomed to 1.3% annual rental rate growth… Read more
Sprouts Farmers Market’s (NASDAQ: SFM) first day as a publicly traded company was a huge win for the natural foods grocer. Shares of the Phoenix-based chain closed at $40.11, up more than 122 percent from its initial public offering price of $18 a share. The grocer, which started in Chandler in 2002… Read more
While the largest metros predictably record the most transaction volume, a few surprises made the cut of the top 10 most active apartment markets so far this year, according to data provided by Real Capital Analytics. Manhattan tops the list as the most active apartment market… Read more
Wood Partners in Marietta, Ga. (Leonard Wood, principal) plans to develop a 296-unit apartment complex just east of the Arizona State University campus in Tempe. The 7.1-acre parcel is just south of the ASU Karsten Golf Course at the northwest corner of University Drive and Dorsey Lane. Sources say Wood Partners will pay roughly $7 million to buy the site later this year after zoning is complete. The seller is… Read more
In a deal slated to close at press time, a company formed by Bridge Investment Group Partners LLC in Murray, Utah (Robert Morse, chairman), as manager of the ROC Funds, was expected to spend $52.75 million ($109,896 per unit) to purchase The Retreat, a 480-unit multi-family community located at 20808 N. 27th Avenue in Phoenix. The seller is a company formed by Equity Residential Trust… Read more