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Commercial Real Estate & Business News – July 1, 2013

Work Starts On Last Phase of Watson Marketplace

BUCKEYE, AZ – Desert Troon Cos. has started work on the final phase of Watson Marketplace, a 125,000-square-foot retail center here. Located at the southeast corner of Watson Road and Interstate-10 Freeway, the property’s last phase is scheduled to open this upcoming fall. The first of the new tenants opening in this phase include Federico’s, Buckeye Nail & Spa and the UPS Store. The prior phases are fully leased and tenants already in operation, according to the Scottsdale-based developer, have been very successful… Read more

Goodyear Community Gets New Banner Health Facility

Work has wrapped up on Mountain Ranch Medical Commons, one of the latest facilities under the Banner Health Center group. Irgens developed the state-of-the-art, 13,000-square-foot class A medical office facility, located just north of Estrella Parkway at Cotton Lane in Estrella, a mixed-use, master-planned community in Goodyear, AZ…. Read more

Valley Adds Most New Jobs Nationally As Construction Employment Increases In 185 Of 339 Metro Areas

Construction employment increased in 185 out of 339 metro areas between May 2012 and May 2013, with the Valley adding the most new jobs, 13,000, for an increase of 15%. Employment declined in 115 areas and was stagnant in 39, according to a new analysis of federal employment data released today by the Associated General Contractors of America… Read more

Crescent Communities Looks West For Next Act

North Carolina-based builder extends its multifamily construction to Texas, Arizona and Colorado. Crescent Communities, a Charlotte, N.C.-based developer and builder, has opened an office in Denver as part of expanding its multifamily construction activities to key markets in the southwestern U.S… Read more

Cap Rates Continue to Decline

Commercial real estate remains a very attractive investment option for both domestic and inbound investors, due in large part to the continued low interest rates and lack of comparable alternative risk-adjusted investment options, according to PwC’s 2Q13 Real Estate Investor Survey… Read more