Commercial Real Estate & Business News – December 2, 2014

Tempe Hayden Flour Mill To Be Hotel, Outdoor Theater And Dining Center

In just a couple of years, the long-standing Hayden Flour Mill is going to have a new look and new buildings. Thus is the vision of the development team planning to adapt the historic icon and gateway eyesore into a vibrant urban development for Tempe. Standing at the intersection of Rio Salado Parkway and Mill Avenue, the five-acre site wrapping around “A” Mountain will be redeveloped into a mixed-use development of restored and new buildings on a plaza from street-side up the mountain… Read more »

Will Rising Interest Rates Stall Commercial Real Estate Activity?

Strong capital flows, from both equity and debt sources, are boosting the liquidity of the commercial real estate market and driving transaction activity. Equity capital of all stripes ? from local investors and 1031 exchanges to institutions that include real estate investment trusts, private equity, and sovereign wealth funds ? have accelerated acquisitions and portfolio repositioning to capitalize on the low cost of capital, consistent revenue streams, and rising prospect for appreciation… Read more »

Dearth Of Shovel-Ready Development Hurts Phoenix Rebound, Business Attraction

The Phoenix market faces a number of challenges in the slow recovery of of its real estate and job markets. One of those is a lack of speculative and shovel-ready office and commercial development expanding and relocating businesses can move into right away. There is currently 807,300 square feet of speculative office space under construction in the region… Read more »

IStar To Start New Phase Of Pricey Condos Sales In Scottsdale

IStar Financial (STAR) will soon start a new phase of sales of expensive condominiums on the Scottsdale waterfront. Seventy-two new units at the Sage development in Scottsdale will hit the market Dec. 6. The two- and three-bedroom units range in size from 1,375 to 1,659 square feet and are priced in the high $400,000s. The $35 million development is located near Scottsdale and Chaparral roads along the Arizona Canal in Old Town Scottsdale… Read more »

H&M To Open 8th Phoenix-Area Store At Tempe Marketplace

Swedish high-fashion retailer Hennes & Mauritz AB, also known as H&M, will open its eighth Phoenix-area store next year at Tempe Marketplace. The company plans to open a 20,000-square-foot-store in fall 2015 in the district area of the the marketplace located near the southwest corner of the Loops 101 & 202. H&M, known for offering the latest apparel at bargain prices, will be the districts first fashion anchor since Tempe Marketplace opened in 2007… Read more »