Commercial Real Estate & Business News – August 28, 2014

The Tohono O’odham Nation will break ground tomorrow on its controversial $500 million casino in the West Valley near University of Phoenix Stadium. The Arizona tribe has been in legal and political fights — including with other tribes and U.S. Sens. John McCain and Jeff Flake — over the casino development located at 91st and Northern avenues… Read more »
Apartment developer P.B. Bell Cos. and Davis Enterprises LLC have been picked to redevelop the city-owned Barrister Place building in downtown Phoenix. Davis and P.B. are looking at a mixed-use project that includes residential, retail and commercial components. There is a planned second building to along with the existing Barrister building… Read more »
Chandler – A venture formed by Wood Partners has completed the purchase of a property in downtown Chandler that is planned for a 301-unit apartment community. In April, BREW reported Wood Partners filing for zoning approval and working to buy the site, which is within an area of Chandler that the City has targeted for redevelopment. The upscale urban housing complex will be developed through a GPLET agreement (Government Property Lease Excise Tax) with Chandler… Read more »
Sand Capital, a privately-held real estate investment company, located in Scottsdale, Ariz., has just closed on 140,390 square foot Target-anchored power center in Fountain Hills. Sand Capital is the financial arm and sister company to Sandor Development Company, which was founded in 1963 in Indianapolis, Indiana. Today, Sandor owns and manages over 8 million square feet of shopping centers in 25 states throughout the United States. Once acquired, Sand Capital assets are managed and leased by Sandor… Read more »
Developers of Tempe’s newest boutique hotel want to pick up the spirit of the city and nearby Arizona State University in its decor. Graduate Tempe is a new hotel giving it the old college try. Without using Arizona State University’s maroon and gold colors, it wants the new hotel to reflect the spirit of the community and university…Read more »