Commercial Real Estate & Business News – March 11, 2014

Glimcher Realty Trust has submitted plans for the next phase of Scottsdale Quarter. The proposed building, at Butherus Drive and 73rd Street,would have 30,000 square feet of retail, topped by office space. The building would be six stories tall with an integrated garage. The site is 2.7 acres at the southeastern corner of the Scottsdale Quarter site… Read more
Trammell Crow in Scottsdale (Jim Mahoney, Cathy Thuringer, principals) plans to develop a 618,000-square-foot industrial park in Gilbert. The 48-acre site is located along the south side of the San Tan Freeway (202 Loop) and east of Gilbert Road in Gilbert. The property has now been assembled in two cash sales totaling a combined $10.479 million ($5 per foot). Here is the deal breakdown:… Read more
A company formed by Meritex Enterprises Inc. in Minneapolis, Mn. (Paddy McNeely, CEO) paid $17.675 million ($91.41 per foot) to acquire 193,366 sq. ft. of industrial space in two buildings located in the Deer Valley area of north Phoenix. The purchase included a 57,764-square-foot structure at 21410 N. 15th Lane and a 135,602-square-foot building at 21415 N. 15th Lane. The seller in the cash transaction was Carlson Real Estate Co…Read more
An 195-unit assisted and independent living facility in Peoria sold to Dune Real Estate Partners on March 4th, 2014 for $35.92m. The nineteen-building complex named The Montecito exists west of the northwest corner of the loop-101 & Bell road intersection in Peoria, or at 17271 N 87th Ave, Peoria. Lifehouse Health Services was the seller… Read more
The Dump, a subsidiary of Haynes Furniture Company, Inc. of Virginia has finalized a lease for a 156,410-square-foot warehouse at 6655 S. Kyrene Road in Tempe. The Dump is a furniture outlet store which buys overstocks, one-of-a-kinds, factory sell outs, showroom models and design prototypes… Read more