Here are the news articles you might find interesting today for commercial real estate and business:
2013 IREM/CCIM Economic Forecast Recap by Nick Miner, CCIM – Part 1 Opening and Industrial Panel he keynote speaker, Wayne Stutzer, did a great job discussing the macro-economic impact of what is happening in simple terms. I have heard Wayne a numerous occasions and his ability to entertain as well as be insightful is one of the best. The biggest takeaway I had was when he discussed America’s competitiveness in the future and how we need to have our kids today focus on S.T.E.M. – Science, Technology, Engineering, and Mathematics. View article…
Sky Harbor Towers Reverts to Beneficiary with a $10.4m Credit Bid The Sky Harbor Towers–formerly known as Hohokam Towers at 4605, 4615 & 4625 E Elwood St in Phoenix–has transferred ownership as of Friday, January 25, 2013. The University of Phoenix is the current tenant at these offices. The office complex totals 273,623 square feet and is comprised of three buildings built 1998-99 on 13.76 acres zoned A-1 & C-2: a seven-story office of 116,257 square feet built in 1998, a four-story office of 86,292 square feet built in 1998, a three-story office of 71,074 square feet built in 1999 View article…
Whitestone REIT Acquires Shops at Pecos Ranch Whitestone REIT (NYSE: WSR) has acquired the Shops at Pecos Ranch, located at 1850 – 1920 W. Germann Rd. in Chandler, AZ from an investment group including Nautica Development for $18.95 million, or about $241 per square foot. Whitestone, a fully-integrated real estate investment trust that owns, operates and redevelops community-centered properties, now owns more than 1.2 million square feet across 15 centers in the greater Phoenix area, including its recent acquisition of two retail centers in AZ for $65.9M. View article…
Regus opens Scottsdale flexible working space Scottsdale professionals looking for some office space have a new option with the opening of the newest Regus flex space center. Luxembourg-based Regus today opened its 15th full-service business center in the Phoenix market at 16427 N. Scottsdale Road. View article…
Kendra Scott Design brings jewelry store to Scottsdale Quarter Kendra Scott Design Inc. has opened a new 1,600-square-foot contemporary jewelry store at the Scottsdale Quarter shopping complex. View article…
Metro Phoenix construction makes one of the largest jumps in the nation According to Phoenix Business Journal, Metro Phoenix construction made the seventh biggest jump in the nation last month. Starting out with a workforce of 87,400 in December, there was an increase of 5,200 jobs, with an overall boost of Phoenix’s construction employment at six percent. View article…
Retail into Seniors Housing: A Natural Progression Seniors housing entered 2013 as one of the top property sectors in terms of demand and investment, and now communities, suffering from empty office buildings and storefronts, are starting to take notice. The seniors housing occupancy rate has risen consistently for the past 11 quarters, hitting 89.1 percent in the fourth quarter, according to a report by the Annapolis, Md.-based National Investment Center for the Seniors Housing & Care Industry. This success, along with the projected wave of demand expected in the next two decades, is encouraging elected officials and developers nationwide to replace underperforming retail properties with units for the elderly. View article…