Here are the news articles you might find interesting today for commercial real estate and business:
The Village at West Point Sells for $14.2M A private investor has acquired The Village at West Point multifamily community for $14.15 million, or about $84,200 per unit, from Foursite Development in a deal that includes assumption of existing debt on the property. Located at 16682 N. West Point Pky. in Surprise, AZ, the property totals 167,244 square feet and was built in 2004 on 8.1 acres in the Loop 303 / Surprise submarket of Maricopa County. It features 168 apartments across 18 garden-style buildings. The unit mix includes 64 one-bedroom, 80 two-bedroom, and 24 three-bedroom units ranging from 685 to 1,071 square feet. View article…
Mayo Clinic breaks ground on $182M Phoenix facility The rain didn’t stop Mayo Clinic from breaking ground this morning on a $182 million facility to house a new proton beam cancer treatment program on its Phoenix hospital campus. View article…
Sunflower Farmers Market planning new Phoenix store Sunflower Farmers Market is planning its eighth Phoenix-area store and expects to create more than 100 new jobs there. The full-service grocer is planning to open in early 2013 at 1625 E. Glendale Ave. in Phoenix. Sunflower, which is based in Phoenix, specializes in value-priced natural and organic groceries, including vegetarian, gluten-free and dairy-free options. The new store will feature all-natural meats including sausages and fresh seafood. View article…
Savers thrift store opens in Scottsdale Savers thrift store recently opened its newest location in Scottsdale. The store, at 15020 N. Northsight Blvd., is open 9 a.m. to 9 p.m. Monday through Saturday and 10 a.m. to 7 p.m. Sunday. The store includes a community donation center, where residents can drop off unwanted clothing and household goods. Savers pays Big Brother Big Sisters of Central Arizona for every donated item. View article…
Wag N’ Wash expanding to downtown Scottsdale A Phoenix-based business aimed at making the task of bathing your dog as easy and enjoyable as possible is expanding to downtown Scottsdale. Wag N’ Wash, a do-it-yourself, dog-washing center and health-food store for dogs and cats, will be locating in a vacant building at 7777 E. Indian School Road, between Hayden and Miller roads. The company’s slogan is “We wash ’em, feed ’em, spoil ’em, all in one cool place.” View article…
Baristas brings sexy coffee shops to Phoenix Sex sells. Now, a Seattle-based company is looking to see if it sells coffee in Phoenix. Baristas Coffee Co. Inc. (OTCPK:BCCI) is expanding into the Phoenix market with plans to open five drive-through coffee bars in the Valley early next year. View article…
Kitchell, Orcutt-Winslow picked for Chandler hospital expansion Kitchell will be the general contractor and Orcutt-Winslow the architect of the $125 million patient tower slated for the Chandler Regional Medical Center. The project will add 96 inpatient beds, bringing the hospital’s total bed count to 339. View article…
Cole Launches Net Asset Value REIT In an effort to provide investors with liquidity based on real estate net asset value, locally based Cole Real Estate Investments has launched its Cole Real Estate Income Strategy (Daily NAV) Inc. fund. Marketed as “Cole Income NAV Strategy,” the non-listed REIT offering will focus on acquiring retail, office and industrial acquisitions, while providing investors the ability to redeem shares, based on NAV. View article…
Manpower: Phoenix hiring outlook brighter for 2012 Valley employers have a more positive outlook for hiring in the first quarter of 2012. According to the Manpower Employment Outlook Survey for the Phoenix area, 20 percent of employers plan to increase current staff levels next quarter, while only six percent expect to reduce staff. This positive outlook puts the Valley among the top five markets in the nation for expected employment growth, said Frank Armendariz, director of metro markets for Milwaukee-based Manpower Group, which conducts the quarterly studies. View article…
News in Brief: Home sales numbers lowered, Fed readies plan, bumper year for farmers National figures for sales of previously occupied homes will be lowered dating back to 2007 after the private trade group that collects them said the numbers were too high. The National Association of Realtors said Monday it will release the downward revisions Dec. 21. The group says changes in the way the Census Bureau collects data resulted in the figures being inflated, as did population shifts. And some sales were counted twice. Last year’s total sales figure of 4.91 million was the lowest in 13 years. View article…
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Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.