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Commercial Real Estate & Business News – January 12, 2015

Builders Slow Phoenix Land Purchases in 2014

Homebuilders cut their spending on metro Phoenix land during 2014 as new home sales fell. Last year, builders spent $510 million on Valley land, according to Scottsdale-based Land Advisors Organization. That compares with $709 million in 2013 ? the most spent on land by home builders in the Phoenix area since the housing boom of 2004-06… Read more »

Board Poised to Buy Land for Loop 202 Extension

The State Transportation Board is being asked to approve buying the first properties in a five-mile right-of-way segment for the Loop 202 South Mountain freeway… Read more »

Holualoa Nabs 200-Unit Apartment Complex in Mesa…Pays $24.2 Million

A company formed by Holualoa Arizona Inc. in Tucson paid $24.2 million ($121,000 per unit) to purchase the 200-unit Superstition Canyon apartments at 1247 S. 96th Street in Mesa. The seller was The Spanos Corp. In a separate sale, records show Holualoa Superstition Canyon Land LLC paid $300,000 to buy a 1.65-acre parcel of undeveloped land that is contiguous west to the apartments… Read more »

Mark-Taylor to Expand Silverstone Apartment Community

Mark-Taylor Inc. plans a big expansion of the upscale Silverstone apartment community at the southeast corner of Scottsdale Road and Silverstone Drive in Scottsdale, pending city approval… Read more »

Natural Grocers Opening in Tucson; On Track to Open 18 Stores in 2015

The family-run company was built on the premise that “consumers should have access to affordable, high-quality foods and dietary supplements, along with nutrition knowledge, to help support their own health.” “We are excited to become the newest ‘neighbor’ in a community such as Tucson, which is very food- and health-oriented,” said Kemper Isely, co-president of Natural Grocers and a member of the founding family… Read more »