Commercial Real Estate & Business News – August 27, 2014

If you live in a major U.S. city and look out over the skyline, chances are good you’ll see construction cranes. Lots of them. Only twice in the past 25 years have new apartment buildings been going up as fast as they are right now. That’s not necessarily a good omen. The first time, in February 2000, was right before the dot-com bubble burst. The second time, January 2006, came right before the housing bubble burst. Now we learn that builders broke ground on 423,000 new multifamily units in July, right before…who knows what?… Read more »
Charles Griffin Cale’s Griffin Opportunties has acquired a 145,000-square-foot building near Interstate 17 and Greenway Parkway. The 9.6-acre property is leased to Climatec. The Phoenix-based company makes building and energy systems and products… Read more »
Lincoln Property Group has acquired a 220,000-square-foot distribution complex in Phoenix that houses a Nestle water bottling operation. Dallas-based Lincoln — which owns a number of properties in the Phoenix market — bought the Freeport Distribution Center at 51st Avenue and Buckeye Road for $12.7 million… Read more »
Construction started today on a high-end apartment complex called Park 28 near Phoenix’s upscale Biltmore area. The 152-apartment project is going up on a four-acre site at the northwest corner of 28th Street and Indian School Road… Read more »
Kitchell recently completed a 171,000-square-foot expansion at Dignity Health Chandler Regional Medical Center, adding 96 beds and bringing the hospital’s bed count to 339, while adding and expanding comprehensive services… Read more »