Commercial Real Estate & Business News – June 27, 2013

Westgate’s Newest Tenant is its Largest to Date

The Westgate Entertainment District in Glendale recently landed the largest office tenant in its seven-year history. Terminix, a Memphis-based pest-control firm, will launch its fifth call center in the United States and its first in the West when it opens at the mixed-used commercial development near Loop 101 and Glendale Avenue… Read more

New Home Sales up 29 Percent From a Year Ago

Sales of newly built single-family homes nationwide posted a 29 percent year-over-year jump in May and, after a slight dip earlier this year, climbed for the third consecutive month. New figures released Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development show new home sales climbed… Read more

Mattamy Homes Picks Up ~80 Acres in Goodyear, Planned for 218 Lots

Mattamy Homes, represented by their VP of Land, Ryan Huffman, has acquired an 80.22 net acre graded parcel in the Palm Valley subdivision of Goodyear. Following final plat approval by Goodyear Town Council on January 28th, 2013, the land is approved for 218 single-family homes, as the residential portion of Palm Valley, Phase IX. The all cash purchase price was $9,626,400, which represents… Read more

OnTrac Moving Headquarters to Chandler; to Bring 850 Jobs

An additional 850 will come to Chandler when OnTrac moves its corporate headquarters to a site along the Price Corridor. According to a press release, the overnight shipping company covering eight western states will move its headquarters from its temporary Phoenix location to a new, 65,000 sq. foot office space located at 2501 S. Price Road… Read more

Neiman Marcus: Good Things Come in Smaller Spaces

In a sign that the luxury retail market may be heating up again, the private equity funds controlling Neiman Marcus Inc. this week filed an initial public offering looking to raise at least $100 million to fund new growth for the high-end international retailer. With a history of 100+ years in retailing, the Neiman Marcus and Bergdorf Goodman brands just posted $4.5 billion in revenue… Read more