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Commercial Real Estate & Business News – January 28, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

RERC Year-End Podcast Ken Riggs and Brian Velky to hear RERC’s commercial real estate outlook for 2013. RERC will present an overview of the state of the national economy, the capital markets, and the commercial real estate market. Based on research from the quarterly RERC Real Estate Report, the podcast will also offer insights into industry and valuation trends. Listen to podcast, click here…

LAST 58 ACRES AT PAPAGO PARK CENTER BEING PLANNED FOR MAJOR MIXED-USE DEVELOPMENT The last 58.56 acres within the 350-acre Papago Park Center in Tempe could eventually hold 3 million sq. ft. of newly built office, hotel, residential and retail buildings if the owner of the land is successful in obtaining a planned area development overlay amendment for the site. Papago Park Center Inc., which is owned by Salt River Project, has filed an application in Tempe to develop the prime acreage in a development being called The Grand at Papago Park Center. According to a narrative filed in Tempe, the applicant is proposing to develop 19 buildings and 7 parking structures on the site. View article…

VIAWEST SPENDS $13.2 MILLION FOR FLEX, OFFICE BUILDING AND LAND PARCEL A company formed by ViaWest Properties LLC in Phoenix (Gary Linhart, Steven Schwarz, principals) paid a combined $13.2 million to purchase a 118,853-square-foot flex, office building and a 2.8-acre parcel of adjoining land in west Phoenix. The sellers in two deals were companies formed by Carlson Real Estate Co. in Minnetonka, Mn. (Matt Van Slooten, principal). View article…

Tilted Kilt names Eddie Goitia CFO Tilted Kilt Pub & Eatery has named Eddie Goitia to the new position of chief financial officer, the company said Monday. The company said Goitia will be responsible for developing and executing a strategic financial plan to assist in the expansion of the brand. View article…

ASU breaks ground on $54 million building to serve construction school Arizona State University has broken ground on a $54.5 million multi-purpose facility at Tempe campus that will serve the Del. E Webb School of Construction. The College Avenue Commons, to be located on the corner of 7th street and College Ave. in Tempe, will house the construction school, a two-story bookstore, and a 200-seat auditorium to be used during campus tours. View article…

Development Trust May Buy and Develop Public Land City officials plan to partner with a large, publicly-traded real estate firm for the commercial development of approximately 100 acres of city-owned land near Tempe Town Lake. The development would take place over the next decade, the Phoenix Business Journal reports. The city issued a statement this week outlining how the proposed contract with Liberty Property Trust (NYSE: LRY), a Philadelphia-based real estate investment trust, could rake in about $11.9 million in net revenue for the city. View article…

Earnhardt Dealership Sells to Winco Foods for $5M WinCo Foods of Boise Idaho has purchased the auto dealership at 1301 N Arizona Ave in Gilbert from Earnhardt Properties for $5,079,192 with no debt. The property is currently a 55,088 SF auto dealership with 1180 parking spaces on 14.58 acres. The site has been planned for an 117,949 SF neighborhood shopping center with a 94,683 SF grocery store anchor and 3 retail pads of 6,388 SF, 7,795 SF and 9,145 SF. Phase 1 for the site, the anchor design, has been approved. View article…

Goodwill Opens Latest Career Center Goodwill of Central Arizona has opened its newest career center, the 14th of its kind in the area. will host job fairs, career services and skill classes such as basic computer lessons. The Phoenix Business Journal reports that it opened today. The center is located at 1150 S. 7th Ave.. View article…

Why Phoenix should be looking up to Seattle, not Austin A lot has been made lately of Phoenix competing with Austin for technology and high-wage jobs. The Texas capital beat out the Valley for a $300 million Apple Inc. campus last year, and General Motors is also placing a new technology center there. View article…

Mesa pushing for more economic development, jobs after strong 2012 The lunch rush at Cucina Di Vita in Mesa can get pretty crowded, but the owners only wish it would be more consistent. “Right now, it’s a struggle, although it’s exciting, we love it a lot,” said owner Mark Lobdell. His small business is in downtown Mesa. View article…

Research Points to Strong Multifamily Sector This Year The industry seems to agree the multifamily housing market is recovering well and will continue to show positive signs this year. Both Fannie Mae and the National Association of Home Builders report low vacancies and climbing rents for 2012 and anticipate a strong market in 2013. View article…