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Commercial Real Estate & Business News – June 24, 2013

 

Marc Nemer, the CEO of Cole Real Estate Investments, one of the largest publicly traded REITs, said that a recovery is under way with fundamentals noticeably improving in the market. “It’s fundamentally different out there,” Nemer told “Squawk on the Street” Friday, when asked how the market today compares with the period six months prior… Read more
The United States General Services Administration (GSA) has been awarded Leadership in Energy and Environmental Design for New Construction (LEED-NC) Gold level by the U.S. Green Building Council (USGBC) – the ultimate standard for green building design. Ryan Companies US, Inc., designed and build the building completed in February 2012. The 225,000-square-foot facility sits… Read more
Pennsylvania Homebuilder, Toll Brothers, has acquired 81.89 acres of graded and entitled land, planned for 112 single-family residences. Formerly known as Vaquero Estates, the parcel – located at the southeast corner of Recker and Ocotillo Roads in Queen Creek – was approved for a final plat as Dorada Estates on June 18th, 2013… Read more
Phoenix Corporate Center – the 26-story office tower where Fennemore Craig PC had been the long-time anchor tenant until earlier this year – is facing foreclosure. Washington state-based Crown West Realty LLC has defaulted on its $54 million loan secured by the high rise, which is now set to go to auction on Sept. 18…Read more
How much movement has there been in new home construction in the East Valley in recent months? Shea Homes expected to still be building at its existing Gilbert and Chandler developments through the end of 2013. But today, halfway through the year, the Gilbert developments of Seville and SPACES at Evans Ranch, as well as Lantana at Power Ranch and Old Stone Ranch in Chandler are all sold out… Read more