Commercial Real Estate & Business News – November 17, 2014

Metro Phoenix lands 2017 NCAA Final Four

The weeklong event, which could generate $100 million to $150 million in economic impact, will culminate with games April 1 and 3, 2017 at University of Phoenix Stadium in Glendale. The 2015 Super Bowl and 2016 College Football Playoff championship game also will be at the same venue, which will seat 75,063 for the Final Four… Read more »

Vacant Grocery Stores in Metro Phoenix Find New Uses

The redevelopment efforts are helping to absorb some of the Valley’s vast amounts of vacant commercial space while revitalizing recession-ravaged shopping centers that lost anchor tenants when supermarkets like Bashas’ and Albertsons went dark… Read more »

Mill Avenue Gets New Brand, Name as Downtown Tempe

After weathering an economic downturn, the hip college strip is hopping again, and downtown stakeholders want to bank on the momentum. A new vision was unveiled at an inaugural State of the Downtown address Wednesday that spotlighted a rebranding effort and a revamped logo to market the city’s urban core… Read more »

Tractor Supply Co. Acquires 100 Acres in Casa Grande for 650,000 S.F. Distribution Center

Tractor Supply Co. plans to develop a 650,000-square-foot distribution facility in Casa Grande that will bring 250 jobs to the area. The “rural lifestyle” retail chain is developing the new project on a 100-acre parcel located at the southeast corner of Burris and Peters roads. Tractor Supply Co. (Greg Sandfort, pres.) paid $4.5 million to acquire the land… Read more »

Restaurant Sales Continue to Rise in October

Buoyed by the continued decline in gas prices, restaurant sales rose to a record high in October. According to preliminary figures from the U.S. Census Bureau, eating and drinking place sales totaled $48.6 billion on a seasonally-adjusted basis in October, which represented an increase of more than $400 million over September?s sales volume… Read more »