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Commercial Real Estate & Business News – August 23, 2013

Koll Co. Buying Vacant Distribution Center On West Side In $29 Million Deal

In what will be its first Valley investment in five years, The Koll Co. in Newport Beach, Calif. (Samuel DePoy, pres.) has agreed to acquire a 682,291-square-foot distribution building located near the northeast corner of Durango Street and 75th Avenue in Phoenix. The vacant project was developed in 2010 by Buzz Oates Enterprises Arizona in Phoenix (Doug Barkdull, principal)… Read more

Market Trend: Phoenix’s Industrial Deliveries, Construction and Inventory

During the second quarter 2013, six Industrial buildings totaling 2,051,304 square feet were completed in the Phoenix market area. This compares to three buildings totaling 665,992 square feet that were completed in the first quarter 2013, three buildings totaling 2,008,075 square feet completed in the fourth quarter 2012, and 80,000 square feet in one building completed in the third quarter 2012… Read more

Improvement in Phoenix Health Care Real Estate

Though the Q2 2013 healthcare real estate vacancy rate of 19.3% could be considered somewhat high by some standards, according to Transwestern’s recent Phoenix Medical Report, this number is at its lowest since 2008. The current vacancy rate is down from the 19.8% reported during the same time last year… Read more

Walmart Neighborhood Market Store Coming to Chandler

Walmart Stores Inc. will open its latest Phoenix-area Walmart Neighborhood Market next week in Chandler. The Bentonville, Ark.-based retailer’s latest neighborhood market will open Aug. 28 at 6085 W. Chandler Blvd. It will be the first in the city… Read more

The Interest Rate Surge and Its Impact on Multifamily

We all knew the ultra-low mortgage rates seen over the last couple years wouldn’t last forever. Still, the recent rise of a full percentage point over a two-month period left even the steeliest of apartment professionals reaching for their Pepto-Bismol… Read more