Commercial Real Estate & Business News – July 2, 2014

When it comes to friendliness toward small businesses, Phoenix has earned a solid B. That’s according to a new survey that sought to measure the country’s most business-friendly cities… Read more
Mesa’s Riverview district is getting some more construction in the form of two new office buildings totaling 255,000 square feet of what developers are calling “amenity-driven office space”… Read more
Crown Realty & Development split off a portion of the 68-acre Mountain Shadows project to a local homebuilder, Cullum Homes. The purchase price was $23m or $575,000 per lot. The transaction is pursuant to an April 24th, 2014 purchase agreement, though the entity through which Cullum acquired the land was formed two years earlier in April of 2012… Read more
The master-planned Estrella community is rebounding as the housing market recovers. Located about 6 miles south of Interstate 10 on Estrella Parkway, Estrella Mountain Ranch opened in 1988 and is one of the few master-planned developments in the West Valley. When complete, it will have 50,000 homes. San Diego-based Newland Communities became the developer in 2005… Read more
A QuikTrip service station isn’t coming to a Phoenix parcel at 44th Street and Palm Lane, but a 63-unit townhome development could. The Phoenix City Council will consider the proposed townhouse development on the same southwest corner of 44th and Palm where QT wanted to build back in 2011… Read more