Commercial Real Estate & Business News – July 24, 2013

Sprouts IPO Looks to Capitalize on Hot Organic Foods Movement

With its $246.5 million initial public offering announced this week, Phoenix-based Sprouts Farmers Market is the latest natural/organic grocery chain to go public in the past 12 months. Small upscale grocer New York-based Fairway Market went public in April and last July, Natural Grocers began trading… Read more

American Furniture Warehouse buys 40 acres in Glendale for $9m

A 41.49 acre parcel in Glendale located at the southwest corner of Loop 101 and Bethany Home Rd, opposite of Westgate City Center and Glendale’s stadium and previously planned for a 1.25m square feet mixed-use project called “Bella Villagio,” has been sold by Stearns Bank to American Furniture Warehouse for $9.0m or $4.98 per square foot… Read more

Construction Commences on TopGolf Locale

TopGolf recently launched construction on its first Arizona location, with approximately 80 people attending the groundbreaking. Those in attendance included representatives from TopGolf, Salt River Pima-Maricopa Indian Community (the 58,580-square-foot facility is on its land) and developer Alter Group… Read more

Rising Prices, Falling Loonie Tarnish Sunbelt Real Estate

With the loonie losing value against the American dollar, U.S. home prices climbing and the potential for higher mortgage rates, Canadian snowbirds may have missed the best time to buy a winter getaway property. But that doesn’t mean the window has closed completely.. Read more

Industrial Sector Takes Off

In 2Q13, the industrial sector recorded its fifth consecutive quarter of net absorption above 20 million sf, with 26.7 million sf of space absorbed. The U.S. saw widespread absorption growth across the country in 2Q13, most notably in the South and Midwest where 22.3 million sf and 19.4 million sf of industrial space was absorbed respectively… Read more