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Commercial Real Estate & Business News – June 27, 2014

Reputation.com, a web service that scours the Internet for references to people and businesses, has leased Tempe office space and intends to hire up to 150 people by 2015. The website will occupy 20,000 square feet in the previously vacant Anasazi Office Building on East Guadalupe Road for a regional sales office, according to ORION Investment Real Estate and the company… Read more
While the value of the assembled land for the ever-growing Scottsdale National Golf Club may be difficult to gauge, there is now some clarity for the value of at least part of the property. With the latest purchase of two parcels totaling 49.83 acres, entities controlled by Valley entrepreneur Bob Parsons now own 563 acres in the high Sonoran Desert of northeast Scottsdale… Read more
An Orange County real estate investment firm has bought a Mesa office park for $32.5 million. The Stapley Corporate Center originally was developed and owned by Desco Group Inc., a Missouri real estate firm operated by the St. Louis Schnuck family. They also own the Schnuck Market chain of supermarkets. Buchanan Street Partners acquired the 180,000-square-foot East Valley complex… Read more
With an employment growth rate that will outpace the national one, Phoenix is on the path of having its fifth consecutive year of real estate growth and economic improvement. The recovering economy will bring about an influx of new residents to the metro area that will undoubtedly lead to higher rent demands and to lower vacancy rates… Read more
The Tempe City Council will vote tonight on a proposed apartment development on a long vacant parcel at Tempe Town Lake. Lincoln Property Co. wants to a build a 350-unit luxury apartment complex called Southbank via two four-story buildings on the site, said Nick Wood, the Snell & Wilmer LLP attorney representing the developer. The parcel sits near the northeast corner of Rural Road and… Read more