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Commercial Real Estate & Business News – December 13, 2012

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

Business Spotlight – Orion Investment Real Estate (Tempe Chamber Article) What makes you special? We are a smaller company with a proven track record of helping our clients achieve their goals. We will work in smaller commercial properties as well as larger properties. Most of our competitors only like to work on larger properties. View the article…

Old Country Buffet Sells for $2.1M A private investor acquired the net-leased Old Country Buffet at 6625 E. Southern Ave. in Mesa, AZ for $2.125 million, or about $233 per square foot. The 9,124-square-foot restaurant building was constructed in 1999 and sits on 1.8 acres. View article…

American Furniture Warehouse plans Gilbert store, 300 new jobs A Colorado-based home furniture company plans to bring 300 new jobs and generate $46.6 million in capital investment to metro Phoenix by building a massive 550,000-square-foot facility in Gilbert, according to a city statement Wednesday. American Furniture Warehouse, which is based in Englewood, Colo., and has a dozen locations statewide, also has high hopes that the new Gilbert store will be its biggest money-maker yet. View article…

Arizona dreamin’: Surge of Californians move to state If people vote with their feet, then at least a few people last year saw Arizona as a land of opportunity. New figures Monday from the U.S. Census Bureau showed the number of people moving to Arizona from other states slightly exceeded the number of folks who decided to seek fame and fortune elsewhere. Arizona gained 222,877 people from the other 49 states. The biggest surge came from California which added nearly 50,000 to this state’s ranks. View article…

Heritage Bank in Arizona acquired by Heartland Financial Heartland Financial USA Inc. has acquired Heritage Bank NA, a Phoenix-based commercial bank that was previously a subsidiary of Ameri-National Corporation of Overland Park, Kan. Iowa-based Heartland (NASDAQ: HTLF) purchased Heritage in an all-cash transaction valued at $15.6 million. View article…

FOMC Ties Fed Funds Rate to Unemployment Despite recent improvements in the unemployment rate and housing, the Federal Open Market Committee (FOMC) voted Wednesday to continue its program of purchasing $40 million a month of mortgage backed securities and to maintain the target Fed Funds rate at 0 to 0.25 percent. The FOMC vote was 11-1 with only Richmond Fed President Jeffery M. Lacker dissenting. View article…