Here are the news articles you might find interesting today for commercial real estate and business:
WinCup Manufacturing and Distribution Center Sold in $155m Portfolio Sale Peter S. Carlson, Managing Partner of Austin, Texas-based AIC Ventures, has completed the sale of a 311,416 ft2 manufacturing and distribution center currently 100% leased to WinCup – a producer of foam cups, bowls, containers and lids. The sale is part of a twenty property $155m portfolio of industrial properties in twelve states being acquired by a co-venture between Brennan Investment Group and Gatehouse Bank, a London-based investment bank. The co-venture paid $20,981,989 for the property or $67.37 per square foot. View article…
More than 500 acres at former GM Proving Grounds in Mesa sold for $32M Despite blueprints for a world-class resort being abruptly put on the back burner this summer, Scottsdale-based DMB Associates Inc. is keeping the ball rolling for the residential component of the Eastmark master planned community. A local home builder and a New York-based private equity real estate fund recently handed over a combined $32.2 million to acquire 527 acres at the former GM Proving Grounds in east Mesa. View article…
Ahwatukee Foothills office property sells to Canadian firm for $6.8 million Another Canadian firm has boosted its Arizona real estate portfolio – this time through a $6.8 million purchase of a midsize bank-owned office building in Phoenix’s Ahwatukee Foothills neighborhood, according to a statement this week from Cassidy Turley in Phoenix. The four-building flex-office property – dubbed the Ahwatukee Foothills Corporate Park — was recently acquired by Enright Capital Ltd., a real estate investment, development and financial services firm based in Calgary, Alberta. View article…
Car dealership group buying former Main Street Glendale, USA Basketball land for $7M The Van Tuyl car dealership group is buying Glendale land previously envisioned for a new USA Basketball headquarters and the ill-fated Main Street Glendale development for $7 million. The land currently is owned by ML Manager LLC, the receivership company that is selling real estate assets held by the now bankrupt Mortgages Ltd. commercial lending business. View article…
Phoenix hospital to unveil $5M reconstruction Patients at Phoenix’s John C. Lincoln Hospital will be greeted by a new entrance after its unveiling on Thursday. The $5 million renovation was intended to create a shooting environment for patients. View article…
HOUSING:
Phoenix, Arizona home price gains lead the nation (again) Not so surprisingly, yet another national housing report — this time from the Federal Housing Finance Agency — has determined that home price gains this year in both metro Phoenix and Arizona have once again far outpaced the rest of the country. The FHFA data released Tuesday shows Arizona landed the No. 1 spot for the biggest year-over-year increase — about 20 percent — in median sales prices in the third quarter. View article…