Commercial Real Estate & Business News – September 23, 2013

JV Pays $23M for Elliot Corporate Center

Everest Holdings of Scottsdale, AZ has joined with Chicago-based Walton Street Capital to acquire the 223,392-square-foot Elliot Corporate Center. The JV paid $23.5 million to acquire the three-story office building from TIC investors headed by Thompson National Properties LLC… Read more

Liberty Center at Rio Salado Ready for Construction

Bulldozers and backhoes are in motion at Liberty Center at Rio Salado, the new sustainable mixed-use business park under development by Liberty Property Trust in Tempe at Priest Road and Rio Salado Parkway. The company is readying the location for construction with the recent approval of its site plan by the City of Tempe… Read more

Wells Fargo to double size of Chandler campus along Price corridor

Wells Fargo is preparing to add 410,000 square feet to its Chandler campus along the Price corridor. The bank disclosed its plans for the first time at a Monday neighborhood meeting — plans that call for an additional two four-story buildings, a four-story parking garage and the capacity for 2,500 more spaces… Read more

Weitz Company Completes Sun Health Colonnade Phase One

After 11 months of construction, the City of Surprise awarded The Weitz Company a Conditional Certificate of Occupancy for the first Independent Living building at Sun Health’s Colonnade on August 24. The building includes 36 new independent living units, as well as a new promenade, spine road, and site enhancements to the main roads, entryway and pedestrian walkways. The grand opening is scheduled for September 24… Read more

Metro Phoenix Housing Market’s Turnaround Creates New Issues

More than 100,000 houses stood vacant across metro Phoenix barely three years ago – roughly one of every 10. Today, it’s more like one out of every 100. Where have all the empty houses gone? Abandoned properties pockmarked virtually every neighborhood in the region in 2010, when the housing crisis peaked… Read more