Here are the news articles you might find interesting today for commercial real estate and business:
WESTPORT CAPITAL BOLSTERS VALLEY PORTFOLIO . . . SPENDS $23.3 MILLION FOR TEMPE PROJECT A company formed by Westport Capital Partners LLC in Wilton, Ct. (Russel Bernard, principal) paid $23.3 million ($106 per foot) to buy 219,809 sq. ft. of office buildings within the Agave Center in Tempe. Agave Property Center LLC was the buyer in the cash transaction, which included 4.6 acres of land ready for development. The seller was MEPT Agave Center LLC, a company formed by Multi-Employer Property Trust (MEPT) in Bethesda, Md. (David Keto, manager). View article…
WATERTON & ASSOCIATES MAKES SECOND DEAL IN TWO WEEKS . . . PAYS $48+ MILLION FOR 514 UNITS A company formed by Waterton & Associates in Chicago, Ill. (David Schwartz, pres.) paid $48.25 million ($93,930 per unit) to acquire the 514-unit Broadstone Desert Horizon apartments located at 16636 N. 58th Street in Scottsdale. The seller in the dea was a joint venture formed by AEW Capital Management in Boston, Mass. and Alliance Residential Co. in Phoenix (Bruce Ward, Bob Hutt, Jay Hiemenz, et al., principals). View article…
COMMUNICATIONS FIRM ADDING 200 EMPLOYEES AT NEW OPERATION CENTER IN TOLLESON Communications Test Design Inc. (CTDI) in West Chester, Pa. (Gerald Parsons, CEO) plans to add 200 workers by the time the company is fully operational at a new manufacturing and distribution facility in Tolleson. CTDI, which repairs, installs, tests and manufactures telecommunications equipment, has leased 238,450 sq. ft. of a 535,213-square-foot industrial building located at 8602 W. Buckeye Road. That structure, which is within the 1.1 million-square-foot Westside Business Park, is owned by a fund managed by LBA Realty in Irvine, Calif. View article…
Camelback Moving expands to East Valley with Father and Son purchase Camelback Moving Inc. has acquired all assets of Father and Son Moving and Storage in a recent sale. Financial terms of the deal were not disclosed. The acquisition included five trucks, two crews, the company’s telephone number, website and local storage customers. The move has allowed Camelback Moving to expand into the East Valley. View article…
Chandler Intel expansion welcomed throughout Southeast Valley When Intel Corp. announced Tuesday that it had begun building a research-and-development facility in Chandler, the news was welcomed not only by city officials but by the entire Southeast Valley. Construction is under way on a $300 million, 285,000-square-foot research facility at Intel’s Chandler campus, northwest of Rural Road and Chandler Boulevard. When completed in late 2013, the facility will be Intel’s third in Chandler. View article…
Tech Markets Are Leading the Recovery in CRE Fundamentals Amid a backdrop of sluggish economic growth and lackluster payroll figures, one sector of the economy continues to shine: technology. The vibrancy of technology in the U.S. permeates beyond the financial outlook of firms in the sector. It directly influences commercial real estate in metro areas where tech firms are the most active. In fact, an analysis of tech-heavy metros reveals that multifamily and office properties are among the many beneficiaries of a dynamic local technology cluster. View article…
Arizona retail sector adds jobs, but still recovering from recession The Arizona retail sector is gaining ground, adding 5,900 jobs in the past year. Arizona was ranked eighth among states for raw jobs added between June 2011 and June 2012, according to new research from On Numbers, a research component of Bizjournals.com. View article…
U.S. sees weakest economic recovery since World War II By just about any measure, the recession that began in June 2009 has had the weakest economic recovery since World War II, an Associated Press analysis found. View article…
Xceligent Begins National Expansion with Phoenix Xceligent began the first phase its national expansion Thursday with the launch of its commercial real estate information service in the Phoenix market. The Phoenix launch marks the start of Xceligent’s expansion to cover the 65 largest markets in the country. View article…
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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…
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3.64 Acres of Land – BANK OWNED – Infill Development opportunity in Surprise. For a brochure, click here…
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