Here are the news articles you might find interesting today for commercial real estate and business:
To view this weeks Costar Watchlist, click here.
Olive Square Sells for $6.3M North American Development Group acquired Olive Square, an 88,825-square-foot shopping center at 5108-5166 W. Olive Ave. in Glendale, AZ, from Westwood Financial Corporation for $6.32 million, or about $71 per square foot. The retail property was constructed in 1975 in the Glendale Retail submarket. It was 92 percent occupied at the time of sale. View article…
Alliance Residential Purchases Lot 4 of Scottsdale Waterfront Alliance Residential has completed the purchase of 145,906 square feet or 3.35 acres of undeveloped land south of the southwest corner of Goldwater Blvd & Camelback Rd for $13.5m or $92.53 per square foot. The site, which is adjacent to Fashion Square Mall, had previously been planned for mixed-use featuring 366 condos as well as office and retail. Scottsdale Waterfront, LLC – a partnership formed between Starwood Capital Group of Greenwich, CT and Golub and Company of Chicago, Il – were the sellers. View article…
Sealy Leases 121,000 SF in Phoenix Sealy, Inc., an internationally recognized leader in the mattress production and distribution business, leased 120,801 square feet at the 5-Star distribution center in Phoenix, AZ. The tenant will occupy a portion of the 251,668-square-foot industrial building at 125 S. 67th Ave. The property was built in 2006 on 35 acres in the SW N of Buckeye Road Industrial submarket of Maricopa County. View article…
CAMELBACK ESPLANADE SIGNS AON AND APOGEE Cushman & Wakefield today announced that Camelback Esplanade, the landmark mixed-use project at 24th Street and Camelback Road, has signed leases with both Aon Corporation (NYSE:AON) and Apogee. Jerry Jacobs, Larry Downey and Michael Crystal of Cushman & Wakefield of Arizona, Inc. represented MetLife, landlord of the Camelback Esplanade in the lease negotiations. Vince Femiano of Transwestern represented both of the tenants. View article…
Water Works Engineers LLC Leases Space at The Alter Group’s Riverwalk Arizona in Scottsdale Water Works Engineers LLC has leased 4,979 SF at The Alter Group’s 187-acre Riverwalk Arizona mixed-use business park in Scottsdale. Water Works Engineers provides engineering products and services to the municipal water and wastewater community. Water Works engineers is hiring new employees as part of the expansion. The company serves a variety of large customers in Arizona, such as the City of Mesa, City of Phoenix and city of Scottsdale, as well as homebuilders Pulte Homes and Taylor Morrison. View article…
Centerpoint Land Parcel at Mill Avenue and 5th Street in Tempe Available for Purchase Centerpoint Land LLC (DMB Associates) has selected Cassidy Turley BRE Commercial to market a 2.8-acre land parcel just west of the southwest corner of Mill Avenue and 5th Street in Tempe, AZ. The site has been approved for two 30-story towers and over 511,000 Square Feet of Residential. The site is adjacent to Arizona State University campus, home to 70,000 students and 14,000 employees. View article…
Investors eyeing McDowell corridor in Scottsdale Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street. It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell. View article…
Scottsdale to consider rezoning for Reata Ranch The Scottsdale City Council on Tuesday will consider a rezoning and other requests to build the Reata Ranch resort and townhouse community on 220 acres southwest of Rio Verde Drive and 136th Street. View article…
More Homeland Security presence in Four Corners The U.S. Department of Homeland Security Investigations in New Mexico said it plans to increase its presence in New Mexico’s Four Corners region to counter to growing influences of Mexican drug cartels in the area. View article…
Scottsdale Healthcare lands funding for new rehab hospital Scottsdale Healthcare’s $17 million rehabilitation hospital is on track to break ground within the next two months as financing and approvals have come together. View article…
Villa La Paws expanding pet resort with franchise program Villa La Paws LLC, a Phoenix-based cage-free pet resort, has launched a franchise program. Owned by Tom Murray, the franchise arm of Villa La Paws will expand the pet resort, spa and training brand across the country. View article…
February 2012 Commercial Repeat Sales Analysis Now Available CoStar Group released the latest findings of the CoStar Commercial Repeat-Sale Indices (CCRSI) last week, providing the market’s first look at commercial real estate pricing trends based on property sales that closed through December 2011, and offering the broadest measure of commercial real estate repeat sales activity. View article…
Existing home sales jump 9% in the West Housing sales improved across the U.S. in January, and strong sales in the West led the way. The number of existing home sales rose 4.3 percent from December to January, the third time in four months existing home sales rose, according to the National Association of Realtors. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – (BACK ON MARKET) Investment, multi-tenant retail center. For a brochure, click here…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale. For a brochure, click here…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, click here…
7320 N Dreamy Draw – Freestanding Office Building in Squaw Peak Corridor-great owner/user opportunity. For a brochure, click here…
2 Acres of Land – (NEW LISTING) Owner/User opportunity to purchase 2 acres of land off of I-10 & 40th Street. 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.