Commercial Real Estate & Business News – May 30, 2014

Real estate mania lives on at the HGTV cable channel, where house shoppers still holler for granite on their kitchen islands and his-and-her sinks in their en suite bathrooms. But in the non-TV reality of middle-class America, the bloom is definitely off the real estate rose. The rose isn’t dead, mind you. Surveys show an enduring desire to own one’s home, despite the trauma left by the real estate meltdown and recession. But the love is not what it was… Read more
One of the most thinly traded office sub-markets in Greater Phoenix saw a major asset change hands when Fenway Properties acquired North Alamos Court I and North Alamos Court II in two separate transactions that closed on Friday. The total purchase price was $8,731,150 or $92.05 per square foot… Read more
Although he wrote last week that “the jury is still out” on whether the US economy is entering a period of stronger growth, Cushman & Wakefield’s Ken McCarthy sees a number of factors related to consumer demand that are gathering momentum. McCarthy, New York City-based senior managing director, economic analysis and forecasting at C&W, says in a US Economic Update released on WednesdayRead more
Tempe opened its $28.2 million transportation center in 2008 with plans for a cutting-edge facility to house municipal transit operations as well as privately leased space that would make money for the city. Six years later, the government real-estate venture has had mixed success… Read more
Sandwich shop Firehouse Subs is heating up its expansion efforts across Arizona. The Jacksonville, Florida-based chain opened three new stores this month and has an additional three slated to open through the summer. Firehouse’s new locations include one in Mesa at Lindsay and McKellips roads and one in Ahwatukee at 40th Street and Chandler Boulevard. Today, the fast-casual operator opened a store in Scottsdale… Read more