Commercial Real Estate & Business News – December 17, 2014

With 2014 coming to a close, many are planning their strategies for the year ahead. But what’s can we expect in the coming quarters? What sectors and cities are hottest? What weak spots remain the Southeast that investors should beware of?… Read more »
A joint venture formed by Cypress Office Properties and Harbert Management Corp. paid $71.5 million ($150.16 per foot) to acquire 476,172 sq. ft. of office space in five buildings at Fountainhead Corporate Park in Tempe. The seller was Tempe Fountainhead Corporate LLC, a company formed by Principal Financial Group Inc…Read more »
The eight Phoenix branches of Meridian Bank NA (MFC) are now part of UMB Financial Corporation (Nasdaq: UMBF). Meridian Arizona, along with five branches of Meridian Bank of Texas, was acquired for around $182.5 million from the Pohlad Family… Read more »
A four-story, 220-unit apartment building is proposed for the northeast corner of 19th Street and Indian School Road in Phoenix. The owner and developer of the seven-acre project, called Aura on Indian School, is Trinsic Residential Group, the engineer is Kland Engineering of Phoenix, the architect is Phoenix-based ORB Architecture LLC and the landscape architect is Collaborative V Design Studio Inc. of Scottsdale. The owner, Todd Gosselink of Trinsic, will be building the project… Read more »
In a move to ensure the Interstate 11 and Intermountain West Corridor Study continues to move forward, the Arizona State Transportation Board approved the next step in the process and the funding to make it happen…Read more »