Here are the news articles you might find interesting today for commercial real estate and business:
Developing on Tribal Lands The Salt River Pima-Maricopa Indian Community, as a sovereign tribe located in the metro area, is bounded by the cities of Scottsdale, Tempe, Mesa and Fountain Hill. With its 52,600 acres of mainly undeveloped land (19,000 of which are kept aside as a natural preserve), the location of these tribal lands could be considered a commercial real estate developer’s dream. View article…
California company buys Shadow Tree apartments SUP 44th Street 148 LLC, an Irvine, Calif.-based company, purchased the Shadow Tree apartments in Phoenix for $5.25 million. The 148-unit complex is located at 2606 N. 44th Street. It was built in 1979. View article…
Sprouts Farmers Market merges with Sunflower, plans expansion Sprouts Farmers Market and Sunflower Farmers Market have signed an agreement to merge. The combined company will be known as Sprouts Farmers Market and have headquarters in Phoenix. The deal, which is subject to regulatory approval, will be formalized in the weeks ahead and financial details were not disclosed. View article…
Westcor moves forward on north Phoenix medical-campus plans Plans to build a medical campus in north Phoenix are moving forward, according to property owners. Westcor’s development is along the eastern side of Interstate 17, just a mile south of Carefree Highway. It originally was envisioned as an auto mall, but plans changed during the recession. View article…
Mesa investor: Builder ignored $1 million bid for eatery site W.M. Grace Development Co. has not responded to repeated offers of $1 million for a portion of the defunct Fiesta Village shopping center, a Mesa businessman said. Adam Rolnick, who owns Oasis Insurance, told The Republic he has been trying to get the Grace company to reply for about a year. View article…
Sunrise Preschools eyeing expansion (Dave & I helped them find this site, click here) After a few down years in the weak economy, Sunrise Preschools is focused on expansion, catering to parents who are job hunting or underemployed and buying inexpensive real estate to turn into childcare centers in working-class neighborhoods. Sunrise recently purchased and remodeled a former insurance call center on Gilbert Road and Hampton Street in Mesa, an area surrounded by apartments and modest houses. View article…
Residential resort proposed for northeast Cave Creek A Tempe-based firm wants to bring a 220-acre residential resort to northeast Cave Creek. The project, called Enchanted Canyon Resort, includes single-family residential lots and a resort facility with a wellnesss spa and casitas. The plan also includes a plaza/amphitheater outdoor venue. View article…
Barbecue competition is heating up For two new barbecue restaurants in Chandler, competition is right across the street. At Chandler Boulevard and 57th Street, Rudy’s Country Store and Bar-B-Q and Can’t Stop Smokin’ Bar-B-Q are planning on opening their first stores in Arizona this spring. View article…
Gateway development expected to be approved A master-planned community proposed for southeast Mesa needs more work to emphasize its connection to Phoenix-Mesa Gateway Airport, Vice Mayor Scott Somers said this week. Somers reacted to a proposal presented to the City Council by Pacific Proving LLC and Scottsdale-based Harvard Investments to develop 484 acres of the former General Motors Desert Proving Ground. View article…
Mesa touts readiness for downtown development Mesa officials treated 50 developers to breakfast, inventive videos, a bus tour and Cactus League game as part of a six-hour sales pitch about investment opportunities in downtown Mesa. The extensively planned promotion was launched this week as the light-rail extension, viewed as a $200 million stimulant for downtown’s metamorphosis, is about to get under way. View article…
Gilbert USA Youth Fitness Center undergoes $3 million expansion The USA Youth Fitness Center essentially doubled in size when it opened its new Gilbert building Feb. 20. The expansion added more than 21,000 square feet of dance studios, tumbling facilities and cheer instruction space to the training complex, which opened in Gilbert in 2008. The $3 million expansion stands near the original center on the northwestern corner of Gilbert and Ray roads. View article…
New hospital opens its doors in Florence Florence Hospital at Anthem opened its doors to the public at 1 p.m. Thursday, more than doubling the number of hospital beds in Florence. In addition to providing area residents with more health-care options, the new hospital — a sister facility to Gilbert Hospital — has generated around 200 new jobs, according to Florence deputy town manager Jess Knudson, who said he expects ancillary facilities, such as labs, physical-therapy centers and other related businesses, to spring up around the hospital over the next few years, generating even more jobs and revenue for the town. View article…
SAMPLE OPPORTUNITIES:
Bella Vista Retail Center – 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…
Former TDC Corp HQ – 6515 S Rural Road, Tempe, AZ – Former Corporate HQ for TDC in Tempe, AZ For Sale. For more information, click here…
2 Acres of Land – 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.