Commercial Real Estate & Business News – May 13, 2014

FedEx Bringing Huge Distribution Facility to Chandler Air Park

With the Price Corridor working its way toward construction build out, Chandler has turned some of its attention to the Chandler Air Park and recently lured in a big fish. FedEx Ground on Wednesday broke ground on a 302,000-square-foot package distribution center on the south side of the air park. The facility, which will be the company’s fourth in the Valley, will open in August 2015 and is expected to bring 200 jobs to the city… Read more

Cohen Asset Management Venture Spends $29 Million for Industrial Properties

A joint venture formed by Cohen Asset Management Inc. and Intercontinental Real Estate Corp. paid $29 million ($166 per foot blended) to buy 174,664 sq. ft. of specialized industrial space located in Phoenix and Tempe. The sellers in four related but separate transactions were companies formed by Alliance Commercial Partners LLC… Read more

Cooley Station Sees Development Uptick

Residential development in the heart of Gilbert’s massive Cooley Station community is beginning in earnest this year as homebuilders advance plans for three neighborhoods expected to bring thousands of new residents to the area. Much of the 775-acre master-planned community, which features an urban village that some say could become Gilbert’s version of Mill Avenue in Tempe, has long sat vacant as developers waited out the Great Recession… Read more

Infrastructure and FTZ Help Goodyear Along

Progress in the West Valley continues as EJM Development Co. has broken ground on $5 million worth of infrastructure development at Goodyear Gateway South in Goodyear. Goodyear Gateway South is a 221 acre industrial zoned park located just north of the Phoenix Goodyear Airport that has recently been subdivided with lots ranging in size from 9.6 acres to 50 acres… Read more

The Best and Worst States for Business

The Chief Executive annual survey of more than 500 CEOs nationwide has once again named Texas as the best state for doing business for 10 years running. Arizona ranks Number 7… Read more