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Commercial Real Estate & Business News – March 18, 2013

Here are the news articles you might find interesting today for commercial real estate and business:

Stalled multifamily project at 32nd St. sold for $5.6M Jones Lang LaSalle recently closed a multifamily investment sale in northeast Phoenix that will moved the “stalled and distressed” property forward so it is ready for residents, a company spokeswoman said. “The recession stopped many local multifamily and condo construction projects in their tracks, and some of these distressed sites have been sitting, unfinished for years,”…View article…

Ashley Furniture to open Metrocenter location in Phoenix Ashley Furniture HomeStores will open a store at Metrocenter Mall next month as the shopping center continues to grow its tenant mix amidst a revitalization effort. The furniture chain will set up shop next to Sears in 15,312 square feet on the lower level of Metrocenter, which is between Peoria and Dunlap avenues just west of Interstate 17 in Phoenix. View article…

Construction Underway on 389 Units Construction is underway on the 389-unit Almeria at Ocotillo, located in the 73-acre, mixed-use Waters at Ocotillo. Gilbane Development Co. has joined forces with the PB Bell Cos. to build the class A multifamily property, which is scheduled for an early 2014 completion. View article…

Pollack to renovate Gilbert strip mall with plans for Hollywood Western feel There are tons of small, tacky retail centers peppered throughout metro Phoenix, but nothing highlights a strip mall’s hideousness better than a life-sized fiberglass horse that is awkwardly plopped atop the edge of the roof. View article…

Cubs’ Wrigleyville’ to take shape soon Some elements of the Wrigleyville West commercial district next to the Chicago Cubs’ new stadium in Mesa could be open by the time the first fans arrive next spring. City and Cubs officials said during a media tour of the sprawling site this week that businesses have expressed interest in opportunities near the $84 million baseball complex. View article…

Leslie’s Poolmart opens 13 stores nationwide in first wave of expansion As the summer swimming season quickly approaches, Phoenix-based Leslie’s Poolmart Inc. opened 13 retail stores across the country today, including one in Maricopa. Today’s openings are the first wave of a three-month opening spree during which the swimming and pool supplies retailer plans to open 48 stores throughout the country. View article…

Bridges Preschool to open campus in Queen Creek Bridges Preschool will have a grand opening from 9 a.m. to noon March 23 at its new Queen Creek site, 20635 S. Old Ellsworth Road. The school plans a festival around the grand opening. View article…

Stringtown, now Alma School Road, became a Mesa suburb’ Mesa’s planning area now encompasses more than 170 square miles. Do you know when Mesa got its first suburb and its name? Two years after Mesa’s settlement in 1878, its first “suburb” began to emerge. By 1885, a mile west of the town center – some distance in the horse-and-buggy era – along what is now Alma School Road, a settlement of homes and farms extending south for 2 miles was well-established. View article…

Mesa residents envision a different kind of city Mesa’s political lexicon has a new entry that could govern a great deal of what happens in this city over the next quarter of a century and more: Sprawl repair. The phrase jumps from a pile of documents that landed on the City Council’s desk last week as Planning Director John Wesley outlined the next steps in a two-year process to update Mesa’s General Plan. View article…

CRE Prices Fall in January but Market Shows Signs of Strength Repeat sales in the commercial real estate market in January came to just one-third of their December volume, according to a CoStar’s monthly Commercial Repeat Sale Indices. However, the Washington-based analytics and marketing firm for the commercial real estate industry said this drop was to be expected and pointed to several positive signs in the sector. View article…