Commercial Real Estate & Business News – September 16, 2013

Phoenix Biomedical Campus launching 150KSF Lab Building

While construction already is underway on a $100M outpatient cancer treatment clinic on the Phoenix Biomedical Campus, two more projects there are in the works. An $18M parking structure is scheduled to begin construction during the second quarter of 2014… Read more

Cole Reit Pays $56.33 Million To Buy 300,000+ Sq. Ft. of Valley Office Space from LBA Realty

Companies formed by Cole Real Estate Investments in Phoenix (NYSE:COLE, Chris Cole, chairman) paid $56.33 million ($184.91 per foot average) to purchase 304,637 sq. ft. of office and back-office space in three properties located in Phoenix and Tempe. The seller in three separate cash sales were companies formed by LBA Realty in Irvine, Calif… Read more

Whole Foods on Camelback Opening Next Wednesday

Set to open on September 18, the Whole Foods Market Camelback store (20th Street and Camelback in the Biltmore area) will feature a casual bar and restaurant as well as a juice bar and in-house roasted coffee along with its aisles of locally-sourced products, organic fruits and vegetables, and sustainable seafood… Read more

Fresh & Easy to Shut Unsold Stores

Fresh & Easy Neighborhood Market here said Tuesday it plans to shut down approximately 50 stores over the next two weeks – locations it is not selling to Yucaipa Cos. – although it will continue to seek buyers for those locations…. Read more

Camden Pays $34M For Sotelo

Business Real Estate News of Arizona reports that Camden Property Trust acquired the 170-unit Sotelo apartments from iStar Financial Inc. The Houston-based REIT paid $34 million to iStar of New York City for the property, which had originally been built as a condominium development… Read more