Commercial Real Estate & Business News – August 21, 2013

Tribe’s Trajectory for Development Along Loop 101 Uncertain

Loop 101 on the Salt River Reservation east of Scottsdale winds through pastoral fields, past casinos and baseball stadiums. It has a community college and shopping areas and several office developments. Whether more of the fields, growing primarily cotton, will be supplanted by development is a question that not even the tribal stewards can answer… Read more

Metrocenter Mall Signs 55,000 SF In 1H ’13

Metrocenter Mall, owned by Carlyle Development Group, signed 55,000 square feet in leases during the first half of 2013. The most recent lease at the 1.3-million-square-foot mall involved 13,327 square feet negotiated with junior clothing retailer Rainbow Shops… Read more

CNL Financial Group Acquires Two Medical Offices at John C Lincoln Hospital

In a two-property transaction that totaled over $13m, Stephen Mouldin of CNL Financial Group acquired ground leases for the John C Lincoln Medical Plaza and the North Mountain Medical Plaza in the vicinity of the John C Lincoln Hospital in North Phoenix. The seller was a co-venture between Montecito Medical Operating Company and Harrison Street Real Estate, represented by Montecito’s Vice-President, Roger S Williams… Read more

Town of Gilbert Seeks Input on Downtown Entertainment Project

Town of Gilbert planning and development officials will continue reaching out to the community as they gear up to bring the proposed downtown Heritage arts, culture and entertainment district to the Town Council on Sept. 5. Planning and development officials recently met with… Read more

Metro Phoenix Home Prices Continue Rise

Home prices keep rising in metro Phoenix. The median sales price of a single-family house reached $190,000 in June, the highest level in five years, according to the W.P. Carey School of Business at Arizona State University. The region’s median home price has climbed 27 percent in the past year… Read more