Commercial Real Estate & Business News – May 31, 2013

Experts Reveal Biggest Challenges in Commercial Construction Sector

The sight of massive cranes and steel superstructures on the horizon is one sign that the commercial building industry is making a comeback in and around Phoenix. But even with the pace of building picking up, leaders in the field have concerns… Read more

7025 N Scottsdale Road is Noticed for Trustee Sale on $24.5m CMBS Debt

A notice of trustee sale was recorded May 28th, 2013 for 7025 N Scottsdale a large office building in Scottsdale whose major tenants include Waste Management and First Western Trust Bank. Located North of the Northeast Corner of Scottsdale Road & Indian Bend, 7025 N Scottsdale is a 3-story office building totaling 91,148 ft2 built 2002 on 2.87 acres… Read more

UPDATED: State Farm’s Phoenix-Area Footprint Slowly Comes Into Focus

State Farm’s corporate real estate team is quite busy these days in Arizona and around the country. This week, the giant insurer completed the $73 million sale of its 372,408-square-foot Tempe Operations Center and announced plans to build a $600 million, five-building regional headquarters, also in Tempe… Read more

Pro’s Ranch Markets Files for Chapter 11 Bankruptcy

Pro’s Ranch Markets filed for bankruptcy reorganization this week, citing a negative perception of Hispanics and immigrants in Arizona as one of the reasons for its financial trouble. The California-based grocery store, which focuses on Latin American foods and has seven locations in Arizona, filed Chapter 11 bankruptcy… Read more

WinCo Foods Chooses West Phoenix for Southwest Distribution Headquarters

WinCo Foods today announced it will open an 800,000-square-foot distribution center in west Phoenix. The new facility, expected to be completed in about a year, will create up to 200 jobs in its first phase… Read more