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Commercial Real Estate & Business News – June 5, 2015

A new survey found that Phoenix small businesses owners felt better about their future in May than in April. San Francisco-based Thumbtack reported that in May 74.4 percent of Phoenix-area small businesses said that in three months from now the company’s financial outlook will be a little or substantially better than it is now. Close to the same percentage of businesses owners said they felt revenue would increase in the next three months…Read more »
JLB Partners L.P. is planning to develop a mixed-use project with apartment, office and/or retail uses on a prime parcel at the southeast corner of Scottsdale Road and Chauncey Lane in Scottsdale. JLB Partners took control of the 10.41-acre (net) parcel with a winning bid of $16.6 million ($1.595 million per acre) at a public auction held by the Arizona State Land Department… Read more »
MC Cos. in Scottsdale has acquired a portfolio of 1,576 apartment units in eight communities located in the Tucson area for a combined $66.7 million ($42,322 per unit blended average). The seller in eight transactions were companies formed by Family Housing Resources Inc… Read more »
A company formed by Green Leaf Partners paid $22.1 million ($99,550 per unit) to acquire the 222-unit Cortona at Dana Park apartments in Mesa. The seller was a limited partnership formed by Virtu Investments LLC…Read more »
Arizona State University, in the midst of an extensive renovation of Sun Devil Stadium, got the green lightThursday to finish designs and negotiate a construction price for the last two phases of the project. The first phase is well under way with the removal of the upper-deck seats in the northwest and northeast end zones. That phase should wrap up later this summer… Read more »