Here are the news articles you might find interesting today for commercial real estate and business:
Lincoln Village Shops in Scottsdale sell for $38,712,500 or $544/SF The Lincoln Village Shops in Scottsdale were sold Wednesday for $38,712,500 or $544.16 per ft2 with no new debt recorded. The seller is Redwood Real Estate Partners- Scott Grady as investment manager. The buyer contact is joint investment entity called Global Retail Investors (GRI), formed in 2005 by First Washington Realty and CalPERS. Lee & Associates has been reported as the broker for the deal. View article…
Cream cheese maker Franklin Foods opening new Arizona plant Florida cream cheese maker Franklin Foods is opening a new production plant in Arizona. The Delray Beach, Fla.-based company will open the new 90,000-square-foot facility in Casa Grande south of Phoenix. View article…
Hawker Beechcraft closing Mesa facility, cutting jobs Hawker Beechcraft Corp. in a letter to employees on Wednesday announced it will be closing three Hawker Beechcraft Services facilities around the country, including one in Mesa at Phoenix-Mesa Gateway Airport. The service centers the company is closing are in Mesa, Little Rock, Ark. and San Antonio, Texas. That will mean the loss of about 240 jobs from those facilities, the letter read. View article…
Spirit Realty off to solid start with first earnings report Scottsdale-based Spirit Realty Capital (NYSE: SRC) released its quarterly earnings this week for the first time since going public two months ago – and it’s initial run on Wall Street is off to a rough start. Spirit Realty – one of two Arizona-based real estate investment trusts, or REIT, that went public this year; the other being Healthcare Trust of America also in Scottsdale – posted a net loss of about $50 million, or $1.70 per share, in the third quarter, according to REIT’s 10-Q filing Thursday with the Securities and Exchange Commission. View article…
Phoenix’s Select Top Office Leases for Q3 2012 The following is an account of the Phoenix market’s select top five office lease transactions for the third quarter of 2012. Aetna leased 139,404 square feet at 4500 E. Cotton Center Blvd. in the Airport Area submarket. View article…
Election 2012 in review: The impact on retail After $6 billion in campaign spending and a barrage of political ads in an election that hinged largely on jobs and the economy and which will impact a wide variety of public policy issues important to the retail industry, Americans woke up this morning to a familiar government. President Obama won a clear victory over former Massachusetts Governor Mitt Romney, with a 50-48 percent lead in the popular vote and a total of 303-206 electoral votes, but voters left Congress divided. View article…
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