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Commercial Real Estate & Business News – March 31, 2014

W.P. Carey Spends $43.1 Million For Chandler Building Leased To QBE Insurance

W.P. Carey Inc. in New York City, N.Y. (NYSE:WPC) has expanded its holdings in the Valley by spending $43.1 million ($235.52 per foot) to acquire a 183,000-square-foot office property at 2700 W. Frye Road in Chandler. The seller was HR Frye LLC, a company formed by Regent Properties LLC in Los Angeles , Calif. (Jeffrey Dinkin, Douglas Brown, Eric Fleiss, partners)… Read more

Planning Expert Talks About Metro Phoenix’s Growth And Evolution

Growth will continue to be a huge driver of Metro Phoenix’s economy. Home prices have rebounded more than 70 percent since the crash, and the commercial-real-estate market is showing signs of recovering. So what’s the outlook for the Valley’s future?… Read more

Phoenix-Area Market Has Grocery Chains In Battle

Fry’s Food Stores and Walmart Supercenter are the biggest players in the hyper-competitive business of selling groceries in the Valley, with both retailers clawing out double-digit shares of the market. But the merger of Albertsons and Safeway, announced earlier this month, offers up a stronger combined competitor that could vie for second place in the market… Read more

Layton Lakes Parcels Final Platted for 344 New Single Family Residences

Layton Lakes will soon see new development activity as Chandler City Council recently approved four new Final Subdivision Plats for the master planned community. Layton Lakes, which is primarily located in Gilbert, will soon be adding 344 new single-family lots to its Chandler portion just south of the southeast corner of Queen Creek and Gilbert Roads… Read more

Chandler Looks For More Airport Development

Chandler once again is looking for businesses to move to Chandler Municipal Airport with the hope that they will help the airport become self-sufficient. The call for proposals is limited to an unused parking lot, where developers have expressed interest, said Lori Quan, an economic-development specialist based at the airport… Read more