Commercial Real Estate & Business News – February 28, 2014

Leclerc Foods Adds Phoenix Facility

Leclerc Foods USA, a North American cookie, snack bar and cracker manufacturer, announces the acquisition of a 166,500-square-foot building in the Freeport Business Center for expansion of its operations in Phoenix. The building is located at 440 S. 51st. Ave. Resulting from an investment of nearly $50 million… Read more

Snowbirds Flock To Valley For Its Climate, Amenities

From October to May, Snowbirds flood restaurants, golf courses, RV parks and roadways in the Valley. Snowbirds are typically retirees who aim to avoid the snow and cold of northern states and spend their winters in warmer climates… Read more

10.29 Acres of Entitled Land Transacts in Gilbert for $204,082 per Acre

Porchlight Homes has purchased a 10.29 acre lot near the intersection of Higley Rd & Williams Field Rd entitled for 44 single family homes. The property traded for $2.1m, which reflects as $204,082 per acre or $47,727 per planned lot. There were four separate debt documents issued with the sale, securing $6.754m total debt with three different lenders… Read more

Tesla’s Potential Arizona Gigafactory Will Be Cutting Edge

Tesla Motors yesterday announced plans for a $1.6 billion convertible note to help finance what could end up being what of the most cutting-edge battery factories in the world. A fierce competition has broken out between Nevada, New Mexico, Arizona, and Texas… Read more

Posh Easy Street’ Project In Carefree Gets New Life

Plans for a $90 million project with condominiums over retail shops in Carefree have been revived and negotiations are under way to anchor the development with a Phoenix Art Museum satellite location. Town leaders have announced the revival of developer Ed Lewis’ “Easy Street” project… Read more