Commercial Real Estate & Business News – December 29, 2015

In one of the largest commercial office investments completed in the Valley, LBA Realty in Irvine, Calif. (Phil Belling, managing principal) paid $279 million ($288.69 per foot) to buy 966,421 sq. ft. of office buildings within the Camelback Esplanade mixed-use project located at the southeast corner of Camelback Road and 24th Street in Phoenix. The Class A offices were sold by Metropolitan Life Insurance Co. (MetLife)… Read more »
DMB Associates is again amending the plan for One Scottsdale, looking to add more height and 1 million square feet to the planned development. One Scottsdale is asking for a 30-foot height bump to 90 feet overall in the new zoning. The move will allows nearly 1,400 new residential units and more than 1 million square feet of additional commercial development on the northeast corner of Scottsdale Road and Loop 101 near the Henkel-GPS Insight building… Read more »
Downtown Scottsdale is experiencing unprecedented employment growth from healthcare, technology and financial services companies. Proximity to advanced education, abundant amenities and excellent demographics continue to attract top companies such as Yelp, Zenefits, Scottsdale Healthcare, Weebly, Groupon, CA Technologies, McKesson, Softwench Solutions, Yodle, Theranos and Webfilings… Read more »
Natural Grocers, the Colorado-based specialty retailer of natural and organic groceries, dietary supplements and body care products, will open two new locations in the Gilbert area in 2016. The two stores will bring approximately 50 new jobs to the Gilbert community… Read more »
Money was no issue if you are involved in local multifamily or healthcare for the past five years, but if you were in office, from an institutional capital standpoint, it was a flyover state. That is according to Mark Singerman, VP and regional director of Arizona at Rockefeller Group Development Corp… Read more »