Here are the news articles you might find interesting today for commercial real estate and business:
California Investor Acquires 280 Units in AZ JRD Management Corporation sold the 280-unit Smoketree Apartments to BH Properties for $7.25 million, approximately $25,893 per unit. Located at 3161 W. Cheryl Dr. in Phoenix, the 189,880-square-foot, multifamily property was built in 1974 and is situated on a 10.2-acre parcel. The property is comprised of 86 studios, 148 one-bedroom and 46 two-bedroom units. It was reported that the property was 83 percent occupied at time of sale. View article…
Liberty breaking ground on new Aetna building in Phoenix Liberty Property Trust (NYSE: LRY) is slated to break ground by the end of August on an upscale, 140,000-square-foot office building atop 12 acres in southeast Phoenix that is being built to house Aetna Insurance. The two-story, Class A office building will serve as a general-use facility for Aetna within the Liberty Cotton Center Business Park, which includes 38 acres and a dozen existing buildings near Broadway Road and 48th Street. View article…
Quantenna Communications opening Tempe research facility Quantenna Communications, a Fremont, Calif.-based semiconductor developer, is expanding its operations into Arizona with the opening of a Tempe research and development facility. The expansion will bring 12 engineering and management jobs to the site, with potentially two dozen more new positions expected over the next few years. View article…
Tammie Coe Cakes, MJ Bread expanding with new partnerships, location Like the pastries and breads they bake, Tammie Coe Cakes and MJ Bread are expanding. The Phoenix-based pastry and artisan bread makers are growing their reach throughout the Valley with new retail partners and, early next year, a new location in Phoenix Sky Harbor International Airport Terminal 4. View article…
Top 5 largest warehouses in Phoenix The two largest warehouses in the Phoenix area together comprise more than 3 million square feet, according to a list of the the area’s largest warehouses that was published in today’s issue of the Phoenix Business Journal. The Phoenix Logistics Center, Building 1, was the largest warehouse on the list, with 1,850,000 square feet. View article…
Massage Envy opens third Gilbert clinic Massage Envy, a co-op of 27 massage clinics, is opening its third Gilbert location, in the Gilbert-Gateway Towne Center, 5052 S. Power Road at the Loop 202 Santan Freeway. View article…
Pinnacle Bank bucks trend, expands to second location While the economic downturn has put many local banks out of business, Pinnacle Bank has expanded to a second location this summer. The new Biltmore-area location at 2200 E. Camelback Road, opened June 25 and replaced a now-closed branch of Sunbank. View article…
Secret’s out: Chandler’s Olde Town Market is rejuvenated Olde Towne Market Square could be downtown Chandler’s best-kept secret. The quaint collection of businesses is tucked away a block southwest of Arizona Avenue and Chicago Street, and it is seeing new life with a new owner and remodeling of the so-called red barn in preparation for a hip coffee and wine bar. View article…
North Chandler striving to revitalize as development goes south Three years ago, when Tia Coates and her real-estate agent husband, Matthew, wanted to move to a bigger home, they began an epic hunt. “We had searches for all over both north Chandler and south Chandler,” said TiaCoates, 37, who has two young children. “We spent a lot of time going back and forth.” View article…
Tucson lands Accelr8 for biotech cluster Tucson has attracted a publicly traded biosciences company, after a competitive bidding process. Accelr8 Technology Corp. is moving its headquarters from Denver to Tucson, with plans to fill 65 positions during the next three years. View article…
Valley hospital celebrates expansion groundbreaking Banner Estrella Medical Center near the Loop 101 and Thomas Road is expanding. The hospital is kicking off construction of a new patient tower that will house 175 new beds and create at least 200 new jobs. View article…
Arizona adds 5,000 government jobs in past year Arizona added 5,000 government jobs in the past year, more than all but four states in the country. The state had 409,700 government jobs in June 2011 and 414,700 in June of this year. View article…
Arizona loses jobs, unemployment rate at 8.3 percent Arizona lost 21,800 jobs in July and the state’s unemployment rate ticked up to 8.3 percent, according to new job numbers from the state Department of Administration. The statewide unemployment rate was 9.6 percent in July 2011 and 8.2 percent in June. 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…
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.