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Commercial Real Estate & Business News – February 20, 2014

Banner Estrella Celebrates Second Patient Tower

Banner Estrella Medical Center is opening a new patient tower. The 178-bed, $161 million patient tower will open in phases, ultimately taking the campus from 214 to 392 licensed beds… Read more

Google Fiber a Possibility for Phoenix, Scottsdale, Tempe

Google Inc. may have yanked the plug on a Tempe engineering center back in 2008, but the tech giant is back in town today with a big announcement. Google will announce today it will evaluate the cities of Scottsdale, Phoenix and Tempe to be part of a national high-speed Internet fiber network it is launching in nine U.S. markets… Read more

Arizona Looks Elsewhere for Growth

Arizona is increasingly looking outside its borders, especially to Silicon Valley and foreign markets, for a new generation of economic growth, business officials said Wednesday. Still giddy about Mesa landing a supplier for Apple Inc., Barry Broome, president and CEO of the Greater Phoenix Economic Council, vowed this year would feature more such deals for the state as word about its business climate spreads… Read more

Safeway Putting Itself Up For Sale

Grocery company Safeway is putting itself up for sale, the company said Wednesday afternoon. Shares of the grocer rose on the announcement, which came alongside fourth quarter 2013 earnings that were marginally better than what Street analysts were expecting… Read more

What Did the Fed Say that Matters to the Housing Market?

The big takeaway from the minutes of the Federal Open Markets Committee January meeting for the housing industry is that tapering is likely to continue apace, and that the Federal Reserve is throwing out its previous goal post of 6.5% unemployment in favor of an ill-defined mandate for continued quantitative guidance… Read more