nick@nickminer.com  480-612-0384

Daily News for Commercial Real Estate & Business – August 15, 2012

Here are the news articles you might find interesting today for commercial real estate and business:

Amazon distribution center in Phoenix sells for $90 million A Denver-based private real estate investment trust paid $90.28 million in cash last week to acquire the enormous Amazon.com distribution center in southwest Phoenix, according to Cushman & Wakefield of Arizona Inc., which brokered the deal. The Aug. 7 transaction marked the biggest investment sale and largest-ever spec building by square footage to sell in the Valley, said Bo Mills, executive director of Cushman & Wakefield, who also helped broker the deal. View article…

Bridgestone expands into research facilities in Mesa, Eloy Bridgestone Corp. is expanding into Arizona with a research facility in Mesa and a farm in Eloy as it sets out to grow a new crop to be used in tire rubber. The Tokyo-based company announced Aug. 2 a farm for the desert plant guayule to research whether it can provide Bridgestone a new source for its base tire materials. It purchased a 281-acre site in Eloy and will process it at a Mesa research facility. View article…

Intel to build $300M research, development facility in Chandler Intel Corp. is planning a $300 million research and development facility at its Chandler campus, one that will employ several hundred workers when completed next year. The building, a 285,000-square-foot, two-story structure, began construction two months ago and will be finished in the second half of 2013. View article…

Clothier H&M to open in Chandler, Glendale Popular clothing retailer H&M plans to open stores in Chandler and Glendale in November. The company, known for chic, inexpensive fashion, will open stores at Chandler Fashion Center at Loop 101 and Chandler Boulevard, and at the Tanger Outlet Center Westgate at Loop 101 and Glendale Avenue. View article…

New businesses make their debut at Town & Country Center Several new restaurants and stores will be opening soon as a part of a plan to revitalize the popular Town and Country Shopping Center, near 21st Street and Camelback. It’s so refreshing to see businesses opening, companies hiring, after years of just the opposite. View article…

Veritas Prep Academy grows on new campus Veritas Preparatory Academy has opened its new campus in east Phoenix, providing more classrooms and a gymnasium to its students. Veritas, a charter school operated by Great Hearts Academies, moved from a small church in central Phoenix to a 141,000-square-foot building, formerly owned by Motorola, near 56th Street and Thomas Road. View article…

Abuelo’s Mexican Restaurant plans new fast-casual spinoff Food Concepts International is planning a fast-casual spinoff of its Abuelo’s Mexican Restaurant in late October with the opening of the new Abuelo’s Taqueria in its home base of Lubbock, Texas. The 41-unit Abuelo’s casual-dining chain has designed the Taqueria concept to offer Mexican items as well as salads, vegetables and house-made sauces and salsas. View article…

Phoenix startup community begins to take off Although Stealthmode has been working with startups since 1999, it has been a pretty lonely business at times. But not now. Just since I have started writing about the Startup Scene here, it has exploded. Admittedly, the explosion is global, fomented by people as disparate as the president of Chile with the Startup Chile program and my friend Dave McClure’s 500 Startups, but I don’t care about them. So here’s your local good news. View article…

HOUSING:
Gateway area may get more housing In this Valley, it sometimes doesn’t take very long for the middle of nowhere to become the middle of somewhere. And even if it does take a while, developers are willing to wait, sometimes for years, for things to roll their way. There’s no better illustration of that than far southeast Mesa, where for years the only things heard were the occasional airplane at a forlorn, former military base and the drone of autos at General Motors’ isolated test track. View article…

Elliott Pollock calls housing price recovery very significant compared to a year ago The consensus forecast of year-over-year real GDP growth for 2012 stayed about flat while the forecast for 2013 fell for the fourth consecutive month. Consumer credit was up but at a rate that was below expectations. This reflects continued consumer caution. Total consumer credit outstanding was up at a 3% annual rate in June over May. View article…

Check out the Market Reports section of my webpage! The market reports that I review on a regular basis will be archived here. I would like to know your feedback after looking at the page. Send feedback by click here…

CURRENT FOR SALE OPPORTUNITIES:
Former SunTykes Property in Tempe Arizona – Owner/User Opportunity. For more information, click here…

Freestanding Auto in Mesa, Arizona – Owner/User Opportunity. For more information, click here…

+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, click here…

1 Industrial Condos in Bahia Business Park (UNIT 104-SOLD – 105 Still available) Owner/User opportunity to purchase 1 industrial condos. For more information, click here…

7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…

6677 W Thunderbird – BANK OWNED – Grey shell office condo in Glendale. For a brochure, click here…

Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…

3.64 Acres of Land – BANK OWNED – Infill Development opportunity in Surprise. For a brochure, click here…

Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.