Commercial Real Estate & Business News – March 3, 2014

In a deal scheduled to close at press time, Baron Properties in Greenwood Village, Colo. (J. Jeffrey Riggs, Scott Fisher, T.J. Tarbell, principals) was expected to pay $30.05 million ($115,577 per unit) to buy the 260-unit Alta Park West apartments located at 9680 W. Northern Avenue in Peoria. The seller is Alta Peoria LLC, a venture formed by Wood Partners in Marietta, Ga. (Leonard Wood, principal) and Boston Capital in Boston, Mass…Read more
Cerberus Capital Management LP is the lead bidder for Safeway (SWY) Inc., the U.S. grocery chain that said this week it’s in talks to sell itself, people with knowledge of the matter said. While other private-equity firms also have expressed interest in buying the second-largest grocery chain in the U.S… Read more
A key measure of developer sentiment about conditions in the apartment and condominium markets weakened in the closing months of 2013, according to the National Association of Home Builders (NAHB). The Multifamily Production Index (MPI), released by the NAHB on Friday, declined four points to 50 in fourth-quarter 2013 over the prior quarter, falling to its lowest reading since fourth-quarter 2011… Read more
A medical office portfolio consisting of three two-story buildings, totaling 154,136 square feet, has been noticed for trustees sale. The properties are separated by three quarters of a mile, as they are clustered near the intersection of Loop 101 & Shea Blvd in Scottsdale… Read more
Median assessed values of Valley homes and businesses increased this year by double-digit percentages for the first time in seven years, suggesting local real-estate markets are recovering, the Maricopa County assessor says… Read more