Commercial Real Estate & Business News – June 30, 2014

The latest U.S. census numbers show Phoenix remains the country’s sixth-largest city, despite speculation that it might overcome Philadelphia for that fifth-most populous spot. Although numbers don’t lie, some local leaders say the census figures don’t provide the full picture, either. They believe Phoenix’s population is undercounted, largely because of the city’s vast Hispanic population… Read more
Chandler officials and developers began the process toward building an office facility on Wednesday that’s expected to bring hundreds of jobs to the Price Road corridor. Kieckhefer Properties and Willmeng Construction Inc. broke ground Wednesday on Chandler 202, a three-story, 140,000-square-foot office building located near the intersection of Frye Road and Ellis Street… Read more
The Chandler City Council voted Thursday night in favor of a housing development that will result in the demolition and demise of the Compadre Stadium ballpark. The abandoned stadium was home to the Milwaukee Brewers from 1986 to 1997. The council vote moves forward a plan with 318 homes and townhomes in a gated community near near Alma School and Ocotillo roads… Read more
With a commitment to spend $500M on capital projects over within the next five years, Banner Health is expanding its footprint with the acquisition of the University of Arizona Medical Center’s two hospitals and affiliated clinics, services and health networks. The capital projects include the expansion and renovation of the University Medical Center and construction of a new multi-specialty outpatient clinic and ambulatory surgery center… Read more
The reality of Interstate 11 moves forward with an amendment sponsored by Arizona Senators John McCain and Jeff Flake. The add-on to the funding bill for the Commerce Department and other agencies will express the “sense of Congress” supporting the Mexico-to-Canada highway and its first segments between Tucson, Phoenix and Las Vegas… Read more