Commercial Real Estate & Business News – July 9, 2014

Despite their recent profitability, the government-sponsored enterprises may soon depart. Although the United States has a free-market economy, its government provides key financial backstops to keep the economy from derailing during a crisis. The Federal Deposit Insurance Corp. guarantees most bank deposits and, in the real estate market, the government assures access to credit, a policy dating back to 1916… Read more
The U.S. housing recovery is still going and international buyers are giving a huge boost, with the Chinese leading the charge. Chinese buying was up more than 70% to $22 billion — nearly 1 in 4 dollars of all foreign purchases, according to the National Association of Realtors… Read more
Block 1949 – the “Class A” student housing and multifamily development located east of the southeast corner of McClintock and University Drives – was acquired by a tenancy-in-common (TIC) group comprised of Consolidated Investment Group (CIG) and CWS Capital Group (CWS) for $38.7m or $172k per door. CIG is the majority interest in the new ownership structure – acquiring 85% of the TIC interest in the property in an all cash purchase. In an interesting wrinkle to the deal, CIG was founded by David Merage who is the brother of Greg Merage, whose MIG Capital acquired the nearby Quadrangles Apartments in April of this year… Read more
Boise, Idaho-based WinCo Foods will break ground on a store in Surprise this month. The Daily News-Sun reports the grocery chain, which already operates four Valley stores, has begun preliminary site work for an 85,000-square-foot store at the southwest corner of Loop 303 and Bell Road… Read more
Sprouts Farmers Market, Inc. (Nasdaq:SFM), one of the fastest growing retailers in the country, today announced it will be moving to a new corporate office to accommodate the company’s growth. The new headquarters at The Offices on High Street (formerly known as CityNorth) will be located at 5455 E. High Street in Phoenix…Read more