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Commercial Real Estate & Business News – November 21, 2012

I hope you have a Happy Thanksgiving with your family and friends!

Costume Manufacturer Buys 125,000 SF in Phoenix Conair Corporation sold its 124,620-square-foot warehouse and distribution building at 2 N 59th Ave. in Phoenix, AZ to a costume manufacturer for $2.92 million, or approximately $23 per square foot. Built in 1975 and situated on a 6.1-acre parcel, the building features 11 loading docks, two drive-in bays, heavy power and clear heights of 22 – 28 feet. View article…

Oil & Vinegar to open international culinary store at Scottsdale Quarter Culinary gift shop concept store Oil & Vinegar will open its first Arizona store Dec. 1 in Scottsdale as part of expansion plans that include opening at least five Arizona stores in the next five years. The new shop will be at the Scottsdale Quarter at 15279 N. Scottsdale Road. View article…

Aircraft firm Hawker Beechcraft closes at Gateway Airport Hawker Beechcraft is closing its airplane maintenance facility at Phoenix-Mesa Gateway Airport only four years after it opened. The company, based in Wichita, Kan., announced the closing as it works through Chapter 11 bankruptcy, for which it filed last May. Hawker Beechcraft also is closing facilities in Little Rock, Ark., and San Antonio, in addition to shedding jobs in its Wichita headquarters. About 400 jobs will be lost in all. View article…

Phoenix ranks as 13th largest U.S. metro area, jumping Detroit Metro Phoenix has gained close to 178,000 residents since 2010 and the Valley ranks as the 13th largest metropolitan area in the U.S. That is according to new numbers from the U.S. Census Bureau and American City Business Journals On the Numbers research. The latest population tallies show just over 4.37 million persons living in the Phoenix area. That compares to more than 4.19 million back in April 2010. View article…

The Valley of the Sun Shines Again The economic engine driving Phoenix has, from its very beginning, been characterized by the five C’s: cattle, climate, copper, citrus, and cotton. It’s a long and storied history in the American Southwest – one that underscores hard work, perseverance, and an ability to put our resources to their highest and best use. Although most of these economic drivers have changed, Phoenix continues to maximize its greatest resources, which today include powerhouse industries such as technology, health care, and education. View article…

Real estate industry at edge of ‘fiscal cliff’ Bipartisan negotiations over the so-called “fiscal cliff” — a combination of federal budget cuts and tax hikes worth about $718 billion that is feared to have an alarming impact on the still-fragile economy — has become the latest post-election topic in Washington. View article…

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