Commercial Real Estate & Business News – August 8, 2013

Newland Closes $69.8 Million Acquisition in Final Purchase at Estrella

It took a few years longer than what was anticipated, but the developer of the Estrella master-planned community in Goodyear has closed the final phase of the staged purchase of the massive property. A company formed by Newland Communities in San Diego paid just under $69.8 million to buy roughly 6,000 acres of land and two commercial properties that encompass 101 parcels within the Estrella development… Read more

Two Golf Courses Change Hands for Eight Figures

Wood Partners is in the process of acquiring seven acres on which it will build a 296-unit apartment complex. The site in question is east of Arizona State University’s campus and south of the university’s Karsten Golf Course… Read more

200,000 SF Tucson Medical Center West Pavilion Opens Its Doors

The Tucson Medical Center West Pavilion in Tucson opened recently, a project designed by Hobbs + Black Associates and built by JE Dunn Construction. The Tucson office of DLR Group also was part of the project. The $74M, 200,000 SF medical facility consists of two major components. The first component is the main surgery department which features 24 operating rooms, 40 patient rooms, 58 PACU rooms and 45 prep/recovery rooms… Read more

Arizona Exports Increase to $9.4 Billion for First Half of Year

Arizona exports totaled $9.4 billion for the first half of 2013. That is up from $9.2 billion for the first two quarters of 2012 and the best exports showing for the state since the recession bottomed out trade in 2009. Arizona ranks 22nd among U.S. states for outgoing trade for the first half of 2013, according to the U.S. Department of Commerce… Read more

Living Spaces to open first Arizona store in Scottsdale

California-based Living Spaces will open its first Arizona location Aug. 8 in Scottsdale. Living Spaces will take over the 130,000-square-foot space previously occupied by The Great Indoors. Living Spaces Scottsdale will create more than 150 jobs, the company said. That includes positions at its new fulfillment center in Phoenix… Read more