Commercial Real Estate & Business News – November 8, 2013

Developers are finally ready to move forward on numerous medical office building (MOB) development projects as the new era of retail medicine begins under the new Affordable Care Act, despite early problems that have temporarily put the Obamacare registration web site out of commission… Read more
A measure of U.S. home prices rose only slightly in September from August, a sign that prices are leveling off after big gains earlier this year. Real estate provider CoreLogic said Tuesday that home prices increased 0.2 percent in September from the previous month. That’s sharply lower than the… Read more
The city of Gilbert has recently partnered with Chicago-based Saint Xavier University to develop a four year liberal arts university within the city’s downtown Heritage District. The new campus is to be constructed on city-owned property just west of Gilbert Road on the north side of Vaughn Avenue, and will feature a built-to-suit 87,000 square foot, four-story building… Read more
Buchanan Street Partners, an active buyer of value-add office and industrial real estate, has purchased a 446,000-square-foot portfolio from Carlson Real Estate Company for $52.6 million, or $118 per square-foot. The 10-building portfolio was acquired in four separate sale transactions and includes a mix of office, industrial, office flex and retail properties… Read more
A company formed Orsett Properties Ltd. in Phoenix (Curt Feuer, pres.) paid $12.1 million ($44.27 per foot) to buy a 273,349-square-foot vacant office project east of Phoenix Sky Harbor International Airport and just north of Interstate 10 and west of the Hohokam Expressway in Phoenix. The seller was WBCMT 2006-C23 Elwood Office LLC, a CMBS. The special servicer for the seller was LNR Partners LLC… Read more