Commercial Real Estate & Business News – June 11, 2014

In its first investment in the Valley, Oregon Pacific Investment and Development Co. in Portland, Ore. (Randy Lovre, Julie Leuvrey, co-presidents) paid $33.3 million ($132,143 per unit) to acquire the 252-unit Pinnacle Queen Creek apartments at 800 W. Queen Creek Road in Chandler. The seller was a company controlled byThe Northwestern Mutual Life Insurance Co… Read more
Job openings in April soared to their highest level in almost seven years in another sign of the labor market’s growing strength. Employers recruited candidates for 4.5 million open jobs in April, up from 4.2 million in March and the most since September 2007, the Labor Department said Tuesday. Openings are “in shouting distance” of their pre-recession high, 4.6 million, in March 2007… Read more
Orsett Properties celebrated the start of construction on Building No. 4 at The Reserve at San Tan located in Gilbert, Ariz. A ground breaking ceremony was held on May 30, 2014, for the new 105,830-square-foot project located at 339 East Germann Road (southeast of the corner of Gilbert Road and Germann Road)… Read more
You can tell that Joseph Cosenza, the vice chair of the Inland Group, is bullish on retail. And in this exclusive interview from RECon 2014, he explains exactly how much. Inland today is a sprawling operation, in terms of both geography and service. In addition to his views on the retail market in general, Cosenza provides a wide-ranging company-performance update… Read more
Gilbert might not be top of mind for vacation, but it’s a great place to raise a family, according to a recent survey. Less than a week after WalletHub named Gilbert among America’s worst spots for a “staycation,” the financial website ranked the town No. 9 in the country for families… Read more