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Commercial Real Estate & Business News – December 12, 2012

Here are the news articles you might find interesting today for commercial real estate and business:

Chandler Midway Corporate Center Sells for $10.1m Steven Schwarz of Viawest Properties has acquired significantly all of the Chandler Midway Corporate Center from its developer, McMahon Development Group. The purchase includes twenty-one of the fifty-two completed office condos totaling 27,498 ft2 and two shell-only buildings of 56,751 and 56,684 ft2. The complex is comprised of nine buildings totaling 193,392 ft2 built in three phases from 2006 to 2008. The 20.26 gross acre site is zoned PAD and is located East of the Northeast corner of Kyrene Road and Chandler Boulevard. View article…

Mountainside Fitness opening at Chase Field; D-backs to redevelop Sliders sports bar Mountainside Fitness Centers plans to open a new fitness center inside Chase Field on Thursday. The center is the first such facility in a major U.S. sports arena, and is located in the former Peter Piper Playhouse area of the Phoenix ballpark. The 13,000-square foot center is part of several new amenities at the stadium. View article…

Phoenix gives ASU $12 million to move law school downtown Arizona State University is moving its law school from Tempe to downtown Phoenix and is getting city-owned property and a $12 million reimbursement from the city to sweeten the deal. The Phoenix City Council and Arizona Board of Regents have approved plans for development of ASU’s Arizona Center for Law and Society on a downtown block that currently houses a parking lot. View article…

Metro Phoenix job market will be strong in 2013 A survey by an employment service predicts the Valley’s job market will be strong next year. Manpower said 23 percent of the Valley employers they talked with plan to beef up staff from January through March and almost 70 percent will maintain the current workforce. Those numbers put the Valley outlook second-best in the nation, according to Manpower. Jonathan Evans with Experis, a division of Manpower, saids he expects a surge in biotech jobs. View article…

Commercial/Multifamily Debt Rises Among All Investor Groups For the fourth consecutive quarter, commercial/multifamily mortgage debt outstanding increased in the third quarter, according to the a report from the Mortgage Bankers Association (MBA). The increase was 0.3 percent over the third quarter of this year. In dollar volume, commercial/multifamily mortgage debt rose $6.6 billion over the quarter, bringing the national total to $2.38 trillion. View article…

HOUSING:
Phoenix leads nation in home price gains Home prices in Phoenix area rebounded at the highest rate of any metropolitan area in the country during the past year, with the price of an average home jumping 9.5 percent, according to new figures from the Federal Housing Finance Agency. View article…

Surge in Phoenix area new-home sales signals market rebound Kori Rockwell said it was exciting to see her dream home being built from the ground up. She, her husband and three daughters have been in love with every aspect of the four-bedroom house since they moved into a KB Home development last month, Rockwell said. View article…

Mortgage Crisis Presents a New Reckoning to Banks The nation’s largest banks are facing a fresh torrent of lawsuits asserting that they sold shoddy mortgage securities that imploded during the financial crisis, potentially adding significantly to the tens of billions of dollars the banks have already paid to settle other cases. View article…

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