Here are the news articles you might find interesting today for commercial real estate and business:
147-UNIT MULTIFAMILY ASSET TRADES IN PHOENIX MSA FOR $15.6M Marcus & Millichap Real Estate Investment Services has arranged the sale of Legacy Village at Gilbert Towne Center, a 147-unit multifamily property in Gilbert, approximately 25 miles southeast of Phoenix. The sales price of $15,650,000 equates to $106,463 per unit. View article…
Shoppers Supply Broadens AZ Footprint Shoppers Supply, a hardware retailer with ranching, pet and feed components, is planning its second Arizona location. To that end, the Iowa-based retailer acquired a former 121,000-square-foot space from Target Corp., with plans to open in the summer. Once open, the store at 2880 S. Alma School Rd. will mark Shoppers Supply’s second location. View article…
Cassidy Turley Completes a 16,324 SF Lease At Promenade Corporate Center Cassidy Turley announced that it completed a lease for 16,324 square feet of office space at Promenade Corporate Center, 16427 N Scottsdale Road. Regus Corporation leased the space for a business center, the fifteenth location in Metropolitan Phoenix for the company. View article…
Ashley Furniture HomeStores to Open in Metrocenter Mall A new lease to national retailer Ashley Furniture HomeStores takes Metrocenter Mall another step forward in its repositioning plan, growing its tenant mix and further cementing the mall as a safe, fun and dynamic family destination. Ashley will occupy 15,312 square feet on the lower level of Metrocenter Mall, next to Sears. View article…
Goodwill of Central Arizona expanding in Gilbert, near Yuma Goodwill of Central Arizona will yet again expand its local footprint this year with the opening of two new locations in Arizona, according to a statement Monday from Phoenix-based Velocity Retail Group. Goodwill recently signed a lease for its fourth Gilbert retail center at the northeast corner of Lindsay and Warner roads, the statement said. The nearly 26,000-square-foot facility is slated to open in the second quarter. View article…
Capriotti’s continues Phoenix-area expansion Sandwich fans continue to have new options here in the Phoenix area. Next month, Delaware-based Capriotti’s will open a second location in Scottsdale. It will be the sixth store in the metro area. The new sandwich shop will open in the former Schlotzsky’s Deli in Old Town Scottsdale at the southeast corner of Scottsdale and Indian Bend roads. View article…
71 American Grille opening in Peoria’s Vistancia community When the doors of Blu Agave Arizona Kitchen closed months ago, a window opened for Belinda Fremouw, who is launching 71 American Grille this month at the Vistancia community in Peoria. The restaurant will be more family friendly than Blu Agave, with a menu representing the regional cuisines of America. View article…
SanTan brewery hopping with possibilities Chandler’s SanTan Brewing Company expects to begin experimenting soon with additional unique brews now that its larger distribution center is completed. SanTan moved into the 35,000-square-foot facility at 495 E.Warner Road in Chandler this week. View article…
Chandler Chabad Center nearing completion The new Chabad Center in the Southeast Valley already is creating a buzz weeks before its scheduled opening. Formally known as the Pollack Chabad Center for Jewish Life, this synagogue of Mediterranean-influenced architecture is expected to be completed at the end of this month. View article…
Citizen Public House team ‘Gladly’ replace Ruth’s Chris Steak House The culinary team behind Scottsdale’s Citizen Public House announced over the weekend they intend to open a new concept called Gladly along the Camelback corridor in Phoenix. The new restaurant will replace the branch of Ruth’s Chris Steak House. View article…
Phoenix commercial real estate market gaining strength, but will sequestration wipe it away? Commercial real estate may be a few steps behind the housing market’s rapid recovery in metro Phoenix, but it has still been making steady gains this past year as businesses continue adding to their payrolls, according to a statement Monday from Cassidy Turley. View article…
Tempe revises streetcar plan in funding attempt Tempe is revamping its plans for the Valley’s first modern streetcar after learning that the city will not receive federal funding for a route that would have extended south on Mill Avenue from downtown toward U.S. 60. The streetcar project, a transit route nearly six years in the making, did not meet the Federal Transit Administration’s threshold for funding under the “Small Starts” program. View article…
Wells Fargo to hire 200 in Arizona Wells Fargo is hiring for more than 200 positions throughout Arizona. The third largest corporate employer in the state will participate in a job fair hosted by Arizona Department of Economic Security and Arizona Workforce Connections Expo at the Arizona State Fairgrounds on March 20. View article…
Outdoor recreation a $10 billion business in Arizona Outdoor enthusiasts visiting Arizona sites such as the Grand Canyon and Lake Mead spend $10.6 billion in the state each year, according to the Outdoor Industry Association. Those billions of dollars spent in the state help support 103,700 Arizona jobs and generated $3.3 billion in wages and $787 million in state and local tax revenues, the OIA says in new state-by-state reports looking at the impact of outdoor recreation on each state’s economy. View article…
Fed’s Duke Says Recovery Is Sustainable and Will Strengthen The evidence is clear that the recovery in housing is finally under way, but the question that remains open is whether the positive trends in housing are sustainable, Federal Reserve Board Governor Elizabeth A. Duke said in a speech at the Mortgage Bankers Association’s Mid-Winter Housing Finance Conference. View article…
HOUSING:
Foreclosed on buyers return to housing market Buyers who lost homes in the housing bust are starting to return to the market, according to CNNMoney. After the housing bubble burst, 4.8 million borrowers have lost their homes to foreclosure and an additional 2.2 million lost theirs to short sales. View article…