Commercial Real Estate & Business News – August 29, 2013


San Antonio, Texas-based USAA Real Estate Co. has sold its interest in SkySong, the ASU Scottsdale Innovation Center to Tucson-based Holualoa Cos. in a transaction that closed Monday, according to a statement today from the new SkySong ownership… Read more
An affiliate entity of Murray Hill Developments Ltd. in Edmonton paid $26.682 million ($101,068 per unit) to buy the 264-unit Desert Harbor apartments at 8885 W. Thunderbird Road in Peoria. The seller was a company owned by Equity Residential Trust in Chicago. The buyer was represented by Alon Shnitzer, Rue Bax, John Kobierowski, Doug Lazovick and Eddie Chang of ORION Investment Real Estate in Scottsdale… Read more
Two publicly-traded real estate investment trusts swapped three large-scale warehouses in Tempe in a $22.1 million-portfolio deal that recently closed. San Francisco-based Prologis Inc. sold the Tempe buildings – which together total about 308,000 square feet – to Denver-based DCT Industrial Trust Inc. for an average $71.74 per square foot… Read more
A student housing report issued by Axiometrics Inc. of Dallas places two Arizona universities in the top 10 list of most off-campus beds delivered during the 2013-2014 school year. University of Arizona added 1,795 beds to the market, while ASU delivered 1,537 beds… Read more
Two new restaurants are joining The Shops at Town & Country in Phoenix at 20th Street and Camelback Road: Grassroots Kitchen & Tap and Snooze. Both restaurants are part of a revitalization of the shops, said Suzanne Victor, a spokeswoman for the shopping center. A Whole Foods is expected open in the center next month…Read more