Commercial Real Estate & Business News – June 17, 2014

According to the National Bureau of Economic Research (NBER) the current economic expansion is five years old this month. Under more normal business cycle conditions the economy would be pushing the pedal on growth around this time… Read more
LBA Realty in Irvine, Calif. (Steven Layton, principal) has completed the $27.97 million ($41 per foot) acquisition of a 682,291-square-foot distribution building located near the northeast corner of Durango Street and 75th Avenue in Phoenix. In May, BREW reported the sale of the vacant property in the works. Maricopa County records show LBA RV-Company III LLC paid cash to buy the project… Read more
Intel is proposing a Preliminary Development Plan to revise the Ocotillo campus. This is the fourth revision to the plan since the campus was first planned. Chandler and Intel officials stress that there are no construction plans for any of these buildings at this time. The PDP will put building sites onto the campus in order to expedite the long-range development of the site… Read more
Topgolf, a new entertainment venue that is part of the Salt River Pima-Maricopa Indian Community’s Talking Stick corridor, opened to the public this week. The venue, which had been under construction since last year just east of Loop 101, includes a high-tech driving range, food and beverage service, and other games. The Talking Stick location, part of the Riverwalk development situated between… Read more
Sandwich chain Which Wich hopes to scarf up additional market share as it looks to more than double its Phoenix footprint in the coming years. The Dallas-based fast-casual brand, which operates eight locations throughout Phoenix, has plans to add an additional 15 to 20 in the next three to four years, turning up the heat in an extremely competitive sandwich sector… Read more