Commercial Real Estate & Business News – December 11, 2014

Chicago Company Buys Scottsdale Four Seasons for $140M

Strategic Hotels paid $140 million for the 210-room, AAA Five diamond destination. The Four Seasons is on a 40-acre piece of land in north Scottsdale and has contractual access to the Troon North Golf Club, which is adjacent to the hotel… Read more »

North Phoenix Office Center Sells for $58.6 Million

A Los Angeles investor has paid $58.6 million for the Desert Ridge Corporate Center, near the Loop 101 and Tatum Boulevard in Phoenix. The office and retail development is 75 percent full, with tenants including Geico Insurance, Vantage Retirement, Wells Fargo Bank, C.H. Robinson Worldwide, K. Hovnanian Homes and Summit Energy. The 1.2 million-square-foot Wells Fargo Bank is located near the office project… Read more »

Arizona Business Owners Optimistic for 2015

BMO Harris Bank released a study that found that business owners and executives in Arizona were optimistic about the prospects for the state?s economy in the coming year. Eighty-six percent of respondents feel Arizona?s economy will grow or stay at the same level in 2015 (39 percent say it will improve, 47 percent think it will remain the same). That outpaces their optimism in the national economy, where only 63 percent feel the U.S. economy will improve or stay the same next year. More than one-third (37 percent) of the respondents believe the U.S. economy will worsen in 2015. Arizona business owners? local confidence is reflected in their positive attitude regarding growth in their own business, with more than half believing their business will grow next year… Read more »

How Arizona Has Become a Worldwide Leader in Bioscience

Every time I go to an event, I learn something I didn’t know. Lately, in Arizona it’s usually something about bioscience, because health care and bioscience are where the action is nationwide… Read more »

TriWest Healthcare Expands Phoenix HQ

TriWest Healthcare Alliance has leased the entire 119,131-square-foot office building at 16010 N. 28th Ave. to accommodate its expansion for its recently awarded contract with the Department of Veterans Affairs (VA.)… Read more »