Commercial Real Estate & Business News – July 30, 2013

MetLife Sells Scottsdale Shopping Center to Bob Parsons of GoDaddy

The McDowell Mountain Marketplace, an 88,121 ft2 neighborhood shopping center at the southwest corner of Thompson Peak Parkway and Bell Road, sold for $14.125m or $160.29 per square foot. The seller was Metropolitan Life Insurance Company (MetLife) through its portfolio manager, Blackrock Realty Advisors. Bob Parsons, Executive Chairman of GoDaddy, purchased the property through his real estate holding company, YAM Management, in an all cash transaction… Read more

Digital Realty Trust Doubles Capacity at Chandler Data Center

San Francisco-based Digital Realty Trust Inc. has doubled capacity at its Chandler data center, making the now 512,664-square-foot center capable of 31 megawatts of power. The Chandler data center added 12 new suites, which each having a range of 1.125 to 1.35 megawatts. Each is customized to a customer’s specifications, said Steve Clark, a Digital Realty senior sales engineer who works out of San Francisco… Read more

Amazon to Hire Hundreds in Phoenix as Part of Larger Hiring Spree

Seattle-based is creating hundreds of jobs in Phoenix as part of a larger move to hire more than 5,000 new people in 17 U.S. fulfillment centers. Employees in the fulfillment centers pick, pack and ship customer orders using “high-end, state of the art technology,” according to Amazon. Amazon has two warehouses in west Phoenix… Read more

Sunbelt Holdings Sells Multi-family Site for $4.5m

A joint venture between Bruce Hart of Vedura Residential and Bert Getz of Globe Corporation purchased a 4.23 gross acre vacant site that is fully entitled for a 266-unit multifamily project called Elevation on Central. The site is located at the southwest corner of Central & Highland Avenues in Phoenix. John Graham of Sunbelt Holdings sold the site for $4.5 million or $24.42 per square foot in the all cash transaction… Read more

New Management Has Big Plans for Firebird Raceway

The future of the raceway appeared unclear when longtime manager of Firebird, Charlie Allen, announced that the Gila River Indian Community (GRIC) would not sign another lease with Firebird. The group that manages the land for GRIC, Sun Valley Marina Corporation, was asked to find a new tenant for the space. Hahne was recruited by Coppertrain Development Partners to enter into a deal with Sun Valley Marina Corporation and take it over. That deal was made early, but it took some time to ensure the raceway still had agreements with Lucas Oil and the National Hot Rod Association (NHRA)… Read more