Here are the news articles you might find interesting today for commercial real estate and business:
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Surprise Office Center Sells For $10,441,059 Samir Sawhney, president of Paramount Group of Companies, has acquired Surprise Office Center at 14239 W Bell Rd for $10,441,059 or $190.77 per square foot with $2,941,059 down and $7.5M debt with Cantor Commercial Real Estate Lending from seller Michael Ibe, president of Western Devcon. This two story office totals 54,731 SF and was built in 2005 on 4.35 acres. The office has a parking ratio of 5 spaces per 1,000 SF of office space. This class A office features a tenant mix of medical, legal and real estate professionals. View article…
Phoenix Investor Acquires Centrado Apts for $12.4M AZ Industrial Holdings sold the 180-unit Centrado Apartments at 2045 E. Broadway Rd. in Tempe, AZ to Jevan Capital for $12.35 million, or about $69,000 per unit. Built in 1972 and renovated in 2007, the 21-building complex is situated on a 9.92-acre parcel. The unit mix features 46 one-bedroom and 134 two-bedroom units with monthly rents ranging from $675 to $1,010. View article…
Ben & Jack’s Steakhouse coming to Scottsdale Can the Valley support yet another ultra-high-end steak house? The owners of Ben & Jack’s, an acclaimed New York City shrine to pricey, prime-grade, dry-aged beef, are about to find out. Next week, they’re launching a Scottsdale branch, their first venture outside Manhattan, on the site of what used to be an Outback Steakhouse. View article…
Banner Health opening Surprise location Banner Health is opening a Banner Health Center on the southwestern corner of Litchfield Road and Statler Boulevard in Surprise. The new center will celebrate its Community Open House from 9 a.m. to noon Saturday. View article…
Bill Johnson’s Big Apple has big cash woes Bill Johnson’s Big Apple restaurants are facing big financial trouble, according to an ongoing case in U.S. Bankruptcy Court. Attorneys for Bill Johnson’s Restaurants Inc., which has been in bankruptcy proceedings for more than a year, said the local chain of iconic restaurants would have been out of business by the end of this month if not for a judge’s ruling allowing it to take out a $300,000 loan. View article…
Charles Schwab poised to hire 200 in Phoenix San Francisco-based Charles Schwab Corp. is looking to hire 200 employees for its Phoenix operations by the end of January 2013. Many of the positions are in the company’s client service and support, adviser services and retirement services areas. View article…
Humana’s pharmacy service RightSource to hire 170 RightSource, Humana Inc.’s mail order pharmacy service, is hiring for 170 new positions at its Phoenix distribution center and Glendale offices, including pharmacists and pharmacy technicians. View article…
Arizona has highest sales tax burden in US Arizona has the highest sales tax burden in the country and ranks 27th among U.S. states for overall tax burden, according to a new report by the Tax Foundation. The conservative group ranks Wyoming, South Dakota and Nevada as having the lowest tax burdens for businesses and residents. New Jersey has the highest tax burden, followed by New York and California. View article…
HOUSING:
CoreLogic’s new method to measure shadow inventory causes higher numbers, confusion CoreLogic Inc. has determined that the shadow inventory figures it has been reporting quarterly for the past seven years are flawed — and, in most cases, way off — and is thus changing its methodology moving forward, according to a company statement this week. View article…
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