Commercial Real Estate & Business News – October 1, 2015

It had been over a decade since the company’s last apartment property purchase in the Valley, but IMT Capital LLC has jumped back into the Phoenix multi-family investment market in a big way. The company paid $100.5 million ($120,793 per unit) to acquire the 832-unit Deer Valley Village apartments… Read more »
With all eyes on the Downtown Phoenix development scene, one of the most anticipated projects of the year has kicked off sales with a strong demand from area buyers looking to invest in growing Midtown Phoenix. Edison Midtown, the urban contemporary midrise by Deco Communities officially launched its sales this week with the opening of a new Sales Center at 46 E. Monterey Way in Phoenix. With dozens of early buyers, the project will shift into high gear when it officially breaks ground in October… Read more »
The Phoenix City Council could vote Wednesday on a development deal and $400,000 worth of traffic signal improvements for a 1,200-worker, 47-acre new campus for W.L. Gore & Associates… Read more »
ASU and master developer Catellus Development Corporation have come up with a preliminary development plan for 330 acres, area bound by “A” Mountain, McClintock and University drives, and Tempe Town Lake…Read more »
A committee representing landlords, employees and other unsecured creditors is objecting to a plan submitted in bankruptcy court by Haggen to close at least 100 stores, including all of the properties in the grocer’s ill-fated expansion into California, Arizona and Nevada. Bellingham, WA-based Haggen, which at this time last year was a regional grocer with 18 stores in the Pacific Northwest, last December agreed to pay more than $300 million for 146 Vons and Albertsons stores shed by Albertsons as a condition of Federal Trade Commission approval of its merger with Safeway… Read more »