Commercial Real Estate & Business News – December 5, 2014

Principal Real Estate Investors Releases 2015 U.S. Commercial Real Estate Outlook

One of the largest institutional real estate managers in the United States, released its annual strategy outlook for commercial real estate. The report details the key themes expected to drive the U.S. commercial real estate market in 2015, including stronger economic growth in the United States and continued accommodative monetary policy… Read more »

256 Apartments Planned for Land by Gilbert Town Hall

A project that includes apartments, offices and retail shops on vacant land northeast of Town Hall got the green light last month (AZBEX, Sept. 10). The Gilbert Town Council narrowly approved rezoning the land. The 4-3 vote came as some council members raised concerns that the apartments would be disconnected from the commercial development… Read more »

Nevins Adams Spends $33 Million To Acquire 280 Apartments In Mesa

A limited partnership formed by Nevins, Adams, Lewbel and Schell in Santa Barbara, Calif. (Henry Nevins, Mike Schell, principals) paid $33 million ($117,857 per unit) to purchase the 280-unit Waterford at Superstition Springs apartments located at 7311 E. Southern Avenue in Mesa. The seller was Waterford at Superstition Springs LLC, a company formed by California State Teachers? Retirement System (CalSTRS)… Read more »

Retailers? Store Opening Plans Reach New High in November

November marked this year?s new high for planned store openings in the U.S., according to the ?National Retailer Demand Monthly? report from RBC Capital Markets. Retailers in the firm?s database indicated they will open 77,547 new locations over the following 24 months?an increase of 0.7 percent compared to the figures projected at year-end 2013… Read more »

Major Construction Set To Start On West Valley Casino Project

Major construction work is set to begin on a new $400 million resort and casino ? the West Valley?s first such venture. Officials with the Tohono O?odham Gaming Enterprise announced Wednesday that preliminary site work is complete on the project?s first phase and that a team of contractors, led by Hunt Construction Group and PENTA Building Group… Read more »