Commercial Real Estate & Business News – October 10, 2013

3Q Report: Metro Phoenix No. 3 In Nation For Office Demand

Metro Phoenix ranked 3rd in the Nation for overall office demand during the last quarter with net absorption of 1,008,933 square feet. The only two markets that were higher were Houston with 1.7 million square feet and New York with 1.3 million square feet of net absorption… Read more

Toll Brothers Picks Up the Atalon Project in Northeast Scottsdale

Toll Brothers has purchased an 81 acre piece of raw land that is planned for a project named Atalon. The site is located just west of the northwest corner of 118th Street and Jomax Road in northeast Scottsdale. The sale price was $5m or $61,728 per gross acre… Read more

Investors Send Mixed Signals on REITs

It was bound to happen: earlier this year when the Federal Reserve Bank announced it would begin scaling back its bond buying program, investors began looking at REITs with new eyes. Why? Tapering would undoubtedly lead to higher interest rates, and higher interest rates, as conventional wisdom goes, is not good for REITs… Read more

Bob Parsons buys Golf Club Scottsdale in latest big real estate deal

GoDaddy founder and executive chairman Bob Parsons is continuing his Phoenix-area real estate buying spree, this time snatching up the ultra-exclusive Golf Club Scottsdale. The 292-acre members-only golf course is almost entirely surrounded by the McDowell Mountain Preserve… Read more

Liberty Property Trust Acquires Two Industrial Buildings In Tempe

Liberty Property Trust has announced that its previously announced acquisition of the operating partnership of Cabot Industrial Value Fund III was completed October 9 for a purchase price of $1.475B. Locally, the purchase includes two industrial buildings in Tempe located at 1858 E. Encanto Dr. and 475 W. Vaughn St. The acquisition adds a total of 149,271 SF of space to the portfolio and brings the current total… Read more