Here are the news articles you might find interesting today for commercial real estate and business:
To view the February 2013 Multifamily Executive magazine, click here…
IRGENS ACQUIRES PORTICO PLACE IN CHANDLER Irgens has acquired Portico Place, a 41,000 sf, two-story, multi-tenant office building located at 2121 West Chandler Boulevard, along with an adjacent land parcel planned for a two-story 48,000 sf office building, in Chandler, Arizona. Sale price and terms of the transaction were not disclosed. View article…
68-Unit Apartment Community in Mesa Sells for $4 Million Cassidy Turley announced that it completed the sale of Country Club Greens, a 68-unit apartment community on 2.4 acres at 350 W. 13th Place in Mesa for $4,000,000 ($58,823 per unit/$1.66 million per acre). The buyer was Clear Sky Capital CCG L.P. (Phoenix) and the seller was California Bank & Trust. View article…
Cushman & Wakefield Completes $2.65-Million Sale of Phoenix Warehouse Commercial real estate services firm Cushman & Wakefield, Inc. has completed the sale of 353 North 44th Ave., a 48,294-square-foot warehouse facility in Phoenix. The property traded for $2.65 million, which factors out to $54.87 per square foot. View article…
SRS Real Estate Partners and Lee & Associates Bring Mellow Mushroom to Ahwatukee SRS Real Estate Partners and Lee & Associates are pleased to announce that Mellow Mushroom has leased a 9,664-square-foot building, the former Rock Bottom Brewery adjacent to the Ahwatukee Foothills Towne Center, located south of the southeast corner of Ray Road and 50th Street, Phoenix, Ariz. This will be the fourth location for Mellow Mushroom in the Phoenix Metro area. Neighboring tenants at Ahwatukee Foothills Towne center include OfficeMax, Best Buy, Jo Ann’s, Ross and AMC Theaters. View article…
Groundbreaking held for new UofA Cancer Center The new University of Arizona Cancer Center at St. Joseph’s Hospital and Medical Center in downtown Phoenix held a ceremonial groundbreaking on Thursday. The new outpatient clinic at the Phoenix Biomedical Campus will go up on the northwest corner of Fillmore and Seventh streets. It’s expected to open in 2015. View article…
Google may open retail stores Are you ready to do some in-person shopping at aGoogle (GOOG +0.39%) store? A new report says Google is planning its own brick-and-mortar retail stores in several major U.S. cities to compete against Apple (AAPL -0.62%) and Microsoft(MSFT -1.36%). Google reportedly wants its stores up and running in time for the 2013 holiday season. View article…
Consumer price growth in Phoenix outpaces national average Consumer prices rose by nearly 2 percent in Phoenix during 2012, according to new figures from the U.S. Bureau of Labor Statistics. The Consumer Price Index for Phoenix increased 1.7 percent over the past year, which was slightly higher than the national average CPI, which was 1.6 percent for 2012, according to the BLS. View article…
(Snow in the Valley?) Time-lapse video of winter storm over Fountain Hills, Arizona The winter storm that swept across Arizona brought weather much of the Valley has not seen, or at least rarely ever sees. View article…
HOUSING:
Zillow: More than 135,000 around Phoenix no longer ‘underwater’ on mortgage More good news for metro Phoenix homeowners: Last year’s underwater rate plunged by nearly 31 percent from the year before, according to Zillow Inc.’s latest report released late Wednesday. In actual figures, that means more than 135,000 Valley homeowners saw their home values rise enough that they were able to climb out of negative equity last year – by far the largest number of any major metropolitan area, Zillow said. View article…
ZipRealty: Phoenix among best places to sell your home Homeowners may find it interesting that metro Phoenix is one of the best markets to sell a home right now – in fact, ZipRealty Inc. ranks it the 11th-best spot in the nation. This may come as no surprise to those familiar with the local housing market. View article…
Zillow: 1.9M Homeowners Released from Negative Equity in 2012 Over the course of last year, nearly 2 million homeowners were released from negative equity, Zillow reported Thursday. Data from Zillow revealed 1.9 million homeowners came out of negative equity due to two main reasons: sustained high foreclosure rates and rising home values, which increased by 5.9 percent year-over-year, according to the Zillow Home Value Index. View article…