Commercial Real Estate & Business News – July 17, 2014

Palo Alto, California-based Theranos is expanding to Scottsdale, leasing a 20,000-square-foot wing at the newest SkySong building and hiring more than 500 people to staff the new operations. Sharon Harper, president and CEO of Plaza Cos., the master developer of the SkySong project at Scottsdale and McDowell roads, said Theranos is exactly the kind of company the projects seeks… Read more »
In a pair of consecutive sales, a joint venture between San Diego-based Midtown Niki Group (MNG) and the locally-based Pederson Group purchased four single-tenant and two multi-tenant retail buildings for a combined $7.92m or $187.60 per square foot. The single-tenant portion was acquired with… Read more »
The former Motorola semiconductor plant site in west Mesa, which closed more than a decade ago and has since evolved into a successful industrial center, will get a major expansion later this year when construction begins on the project’s final phase… Read more »
Trammell Crow Company and venture partner Principal Real Estate Investors announce they will develop a 219,000-square-foot industrial park in Deer Valley. The complex will be situated on a 14-acre parcel at the northeast corner of 7th Street and Covey Lane in the Spectrum Ridge master-planned park in Deer Valley. Preliminary site plans show… Read more »
Summer’s traditionally when moving vans clog the streets as people try to get settled in new homes and apartments before the school year starts. Renters looking for an affordable lease this year may have a tough time finding one. Trulia’s Chief Economist Jed Kolko compared newly released wage data to current rents and found that rents increased faster than pay in all of the 25 largest metro areas over the past year… Read more »