Commercial Real Estate & Business News – December 31, 2014 – Goodbye to 2014!

Earlier this year we reported on a rather active retail market. Apparently that was only the beginning. Second and third quarter transaction volume displayed steady momentum, continuing the rising trend that’s built over the past 4 years. On a recent episode of the Commercial Real Estate Show we looked into the growing popularity of the retail sector… Read more »
After 46 years, Baker Nursery in Phoenix has sold its last succulent. Though the nursery’s website says its last day is Dec. 31, a “closed” sign and an empty lot say otherwise. Baker Nursery’s owners sold the approximately 9-acre property, near 40th Street and Osborn Road, to the Empire Group, a Scottsdale developer, for $8.7 million in October, said Rich Zacher, a principal with the Empire Group… Read more »
A Scottsdale development company – with Chinese backing – still plans on buying land from the city of Tempe for a proposed $1.2 billion mega-development. TrendEx Holdings LLC missed a Dec. 12 deadline to pay the city $17.6 million for 11 acres of land along Tempe Town Lake. But the developer says it has a 30-day extension to still buy the property and plans on making that January deadline… Read more »
Arizona State Land Commissioner Vanessa Hickman manages the leasing, sale and highest use of roughly 9.2 million acres of Arizona State Trust land, a huge portion of which is meant for K-12 education. As the president of the Western States Land Commissioners Association, to which Phoenix is the winter conference host Jan. 4through 8 at the Arizona Biltmore Resort and Spa, Hickman answered questions about important land issues…Read more »
Real-estate investment trusts were among the hottest stocks of the year, propelled to their biggest gains in nearly a decade by low interest rates and an improving economy. REITs, which own properties as diverse as office buildings, apartments and warehouses, are sensitive to changes in interest rates because many investors see them as an alternative to fixed-income investments like bonds… Read more »