Here are the news articles you might find interesting today for commercial real estate and business:
New Phoenix-area shopping centers taking shape Two new major shopping venues will soon open in the Valley. This week, Glendale officials held an official groundbreaking for the new Tanger outlet mall near Westgate. The outlet center is set to open this fall and will be the first Tanger property in Arizona. View article…
Apartment complex is planned for Gilbert’s Morrison Ranch Morrison Ranch will soon get its first apartment complex. The 228-unit apartment complex will be going up on a 14-acre parcel of land that Scottsdale-based P.B. Bell Companies bought from the Arizona State University Foundation on March 6 for about $2.8 million, according to R. Chapin Bell, president of the real-estate management and development firm. View article…
Tempe high-rise announcement planned Plans for the first high-rise to break ground in Tempe since 2007 will be announced at 10 a.m. Tuesday at Hayden Ferry Lakeside on the southeastern corner of Mill Avenue and the Rio Salado Parkway. Developers, brokers, architects and members of the Tempe City Council will be present for the announcement and a status report on Tempe business leasing. View article…
Paradise Valley resort planning expansion The Sanctuary Camelback Mountain Resort and Spa in Paradise Valley is planning an expansion that includes 20 new guest rooms, a multipurpose pavilion and an addition to its women’s spa. General manager Mike Surguine said the changes are purely economical. View article…
Scottsdale planning group gives 9-building complex a thumbs-up A proposed 369-unit apartment complex west of Portales Corporate Center received a favorable recommendation from the Scottsdale Planning Commission on Wednesday, but not until after extensive debate over adding a right-turn-only exit to curb westbound traffic on Chaparral Road. View article…
Multifamily redevelopment projects booming Construction work is under way on the redevelopment of Lake Country Village a 26-acre former strip mall on Baseline Road, east of Rural Road in Tempe. The site may be converted from retail into mixed use since it’s zoned to allow up to 605 multifamily housing units. Whether the housing will be built has yet to be determined, but four retail stores will be relocated on the site, said the project’s broker, View article…
Postino East ready to make splash in downtown Gilbert The ghosts of Gonzo’s and GrainBelt are gone, replaced with bruschetta, bottles of wine and four enthusiastic owners who see their popular brand as a perfect fit for downtown Gilbert. Postino East, a sister restaurant to two well-known wine cafes in Phoenix, is scheduled to open Monday in the Heritage District after extensive remodeling on a building that has housed five restaurants over 10 years, starting with Mahogany Run in 1998. View article…
Terri’s Consign store moves in Scottsdale Airpark Terri’s Consign & Design Furnishings has signed a five-year lease for a 23,000-square-foot showroom in the Scottsdale Airpark, northwest of Hayden Road and Raintree Drive. The store that opened March 1 replaces one on Raintree Drive along the Loop 101 frontage road. View article…
Z’Tejas reduces building size to avoid parking conflict Two contested central Phoenix zoning cases landed before the city’s Board of Adjustment last week. A request to postpone a formal parking determination related to the first case, a Z’Tejas proposed at a shopping center at 16th Street and Bethany Home Road, was withdrawn. A separate request for a variance to relax parking requirements at the center also has been withdrawn, according to city zoning administrator Alan Stephenson. View article…
Gangplank expands with new Avondale facility Gangplank, the small-business incubator and co-working space, has opened its third Phoenix-area location in Avondale. The group, which started in Chandler and became a breeding ground for quick-start online companies, has opened at 525 N. Central Ave. in Avondale’s former city hall building. View article…
Pavilions at Talking Stick to add Hooters The Pavilions at Talking Stick has announced a lineup of new tenants, including Hooters, American Furniture Galleries and Potato Barn Unique Home Furnishings. The Hooters restaurant is scheduled to open in late fall. The two furniture stores have already opened. View article…
Arizona Corporation Commission shuts down Arizona-based real estate scam The Arizona Corporation Commission halted this week what officials there called a real estate scam that took more than $1 million from investors. The ACC issued a default order against several Arizona companies that collected the money from 16 investors. View article…
Gas Jump Fuels Consumer Price Rise, Most in 10 Months U.S. consumer prices rose by the most in 10 months in February as the cost of gasoline spiked, a government report showed on Friday, but there was little sign that underlying inflation pressures were building up. The Labor Department said its Consumer Price Index increased 0.4 percent after advancing 0.2 percent in January. That was in line with economists’ expectations. Gasoline accounted for more than 80 percent of the rise in consumer prices last month, the department said. View article…
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Bella Vista Retail Center – Investment, multi-tenant retail center. For a brochure, click here…
+/- 43,000 SF Leased Industrial Building in Southern Gardens – Single Tenant Investment opportunity. For more information, 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…
5051 & 5057 E Thomas Road – Former Dentist Office and Former Real Estate Office For Sale/Lease. 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…
Kokopelli Springs in St. David, AZ – Investment, 56 unit mobile home park. For a brochure, 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.