Commercial Real Estate & Business News January 14, 2020

Joint Venture Pays $60 Million for Tempe Mixed-Use Center A joint venture of Wexford Developments and Argosy Real Estate Partners bought the Centerpoint on Mill, a mixed-use center in downtown Tempe, Arizona, for $60 million. An AMC move theater anchors Centerpoint on Mill, which has five buildings totaling 139,000 square feet at 740 S. Mill Ave. just a few steps away from Arizona…»
America’s New Favorite Restaurants are Wawa, Sheetz and 7-Eleven
In “Vacation,” National Lampoon’s 1980s classic, Chevy Chase jokes, “I’m so hungry. I could eat a sandwich from a gas station. “But the convenience stores and gas stations that dot America’s retail landscape have worked to improve their dinners-to-go and coffee. Today, chains like Sheetz, Wawa and Kwik Trip offer meal kits, salads,…»
Single-Tenant Net Lease Cap Rates Reach Historic Lows
The fourth quarter brought record low cap rates for single-tenant national net lease properties in the retail, office and industrial spaces, according to the 4Q2019 Net Lease Market Report by The Boulder Group. During the quarter, national asking cap rates fell 14, 6 and 5 basis points to 6.07%, 6.94% and 6.9% for retail, office and…»
NorthMarq Secures $185M in Financing for Northrop Grumman Campus
Eric Flyckt, senior vice president, Wyatt Campbell, vice president, and Casey Allred, associate producer, of NorthMarq’s San Diego office, arranged a $185,000,000 loan for the recently completed Northrop Grumman Innovation Systems’ campus in Chandler, Arizona. The development comprises a three-story, Class A, office building totaling…»
Here’s How Glendale’s Loop 303 is Booming With Development
It’s been just over a year since Glendale City Council gave the nod to activate the Loop 303 Corridor. Since then, much has changed. Red Bull’s announcement to build their first manufacturing facility in North America at Reems and Peoria Roads with an investment of over $280 million dollars for the 750,000 square-foot building served as…»