Here are the news articles you might find interesting today for commercial real estate and business:
Fry’s to close older stores in Mesa, Goodyear Fry’s Food Stores will be closing two longtime Valley locations next week. The grocery chain will be closing its store at 825 W. University in Mesa. The other location is at 390 N. Litchfield Road in Goodyear. Both stores will close Oct. 16, said JoEllen Lynn, a Fry’s spokeswoman. View article…
Massive apartment project transforming area near ASU A massive 19-story, 269-unit apartment building under construction across from Sun Devil Stadium is transforming the region’s landscape and is expected to attract hundreds of new residents to downtown Tempe. The structure is expected to be completed by August 2013, timed to coincide with Arizona State University’s fall semester. The Hub on Campus building’s amenities are geared toward a student market, but it is not necessary to be a student to live there as the development is not an ASU property, said Melissa Flath, the complex’s leasing manager. The building is owned and managed by Core Campus, which specializes in student housing. View article…
From the Economy to Equity: Owners and Lenders Weigh in This year’s Lodging Conference here seemed to be a profitable and positive event, at least according to immediate feedback. And if the event’s final forum, titled Owners and Investors and moderated by ALM Real Estate Media Group’svice president and group publisher Michael Desiato, was anything to go by, this positivity will carry through the rest of 2012, despite the looming election. View article…
Starbucks Adding More Stores Starbucks says it plans to open a thousand new stores and add 20,000 new jobs nationwide over the next five years. The company also plans to diversify its business by acquiring more food and drink companies. Starbucks is also trying to make things more convenient for customers. View article…
Phoenix Suns demolition plans cause a downtown stir The Phoenix Suns are stirring some downtown sensitivities with possible plans to demolish to boarded-up old motels just west of US Airways Center. The Madison and St. James Hotels were built during the early 20th century and have been owned by the Suns for several years. View article…
Troon to manage new Sewailo Golf Club near Tucson The Pascua Yaqui Tribe has selected Scottsdale-based Troon to manage its new golf club opening up next year at the Casino Del Sol Resort near Tucson. The new golf course, dubbed Sewailo Golf Club, marks the seventh Native American tribe-owned property in Troon’s management portfolio, including three in Arizona — Whirlwind Golf Club at Wild Horse Pass in Chandler; Southern Dunes Golf Club in Maricopa; and Talking Stick Golf Club in Scottsdale — and one each in California, Connecticut and North Carolina, according to a statement Monday by Troon. View article…
Arizona continues push to become solar energy capital Business leaders, community leaders, students, solar industry representatives will gather at Arizona State University’s SkySong Tuesday and Wednesday for Arizona Solar Summit III. Former Arizona Corporation Commissioner Kris Mayes is with ASU and said most Arizonans believe solar energy represents our economic destiny in many ways. View article…
Federal funding deal for light rail in Mesa nearing Top federal transportation officials will be in Mesa this week to sign papers committing Washington to a large share of funding for the next leg of light rail. The extension through downtown is expected to cost about $200 million. The feds have promised $75 million, and the rest will come from Proposition 400, a countywide sales tax approved by voters in 2004. View article…
Seed Spot chooses its first 16 social ventures Nonprofit incubator Seed Spot has announced the first group of socially focused ventures chosen to participate in its program. Sixteen startups will go through a rigorous entrepreneurship curriculum with support from Arizona business executives. View article…
HOUSING:
Prices in Phoenix Get Boost from Thinning Foreclosure Inventory Phoenix home prices continue to rise, while investment activity appears to be slowing down according to a report from DataQuick. From January to August, the number of homes lost to foreclosure totaled 19,998, a decrease of 49.5 percent from the same period a year ago, San-Diego-based DataQuick reported. The company tracks real estate trends nationally via public property records. View article…
Glendale housing shortage increases home value Olympic wrestling gold medalist Henry Cejudo recently examined the nooks and crannies of a Glendale home at the suggestion of his Realtor. This has become commonplace for the Valley athlete turned housing investor, who currently owns about 14 properties, mostly in Glendale. View article…
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