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Lee & Associates - Arizona | Week in Review | August 29, 2014

08/29/2014


LEE IN THE NEWS

 

Calif. investment firm takes Chandler Iridium facility for $12.7M

A 69,429 SF fl ex manufacturing facility and an adjacent 2.97 AC parcel at 1800 S. Price Rd. in Chandler has been sold for $12.65M. The building is fully-leased to Iridium Communications with an estimated 10 years remaining on their lease. AZRE MAGAZINE

 

TA Associates Drops $68 Million For Office-Retail Project In Chandler

A limited partnership formed by TA Associates Realty in Newport Beach, Calif. paid $68 million ($287.64 per foot) to buy 236,405 sq. ft. of office and retail space within The Park at San Tan project in Chandler. BREW

 

Lee & Associates Handles Major Lease Transaction for Wenner Bread Products Move to New Jersey

Lee & Associates, one of the largest commercial real estate firms in the nation, recently negotiated a long term lease for Wenner Bread Products, a Long Island, New York company in its historic move to a 301,626-square foot manufacturing facility in New Brunswick, NJ. PRWEB

 

 

LOCAL NEWS

 

Obscure, Chinese-backed developer eyes $1.2B project on banks of Tempe Town Lake

The city of Tempe is poised to sell 11 acres of land on Tempe Town Lake to a developer who claims financial backing from Chinese and commodities-trading interests. The plan? A $1.2 billion, 2 million-square foot development on the banks of the lake. PHOENIX BUSINESS JOURNAL

 

Arizona Muscles Its Logistics Assets with Sun Corridor Megapolitan Area

Arizona’s Sun Corridor is an economic extension of Southern California when it comes to setting up logistics businesses. Five hours from the Los Angeles metro industrial areas, logistic businesses find total operating costs are as much as 25 percent less in the Sun Corridor than Los Angeles. AZBEX

 

Two companies to renovate Barrister building

The city of Phoenix selected two companies on Aug. 12 to redevelop the Barrister building and its neighboring property. DOWNTOWN DEVIL

 

High-end apartments under construction near Biltmore area

Construction started today on a high-end apartment complex called Park 28 near Phoenix's upscale Biltmore area. The 152-apartment project is going up on a four-acre site at the northwest corner of 28th Street and Indian School Road. AZCENTRAL

 

Lincoln Property buys Phoenix warehouses for $12.7 million

Lincoln Property Group has acquired a 220,000-square-foot distribution complex in Phoenix that houses a Nestle water bottling operation. PHOENIX BUSINESS JOURNAL

 

 

NATIONAL & INTERNATIONAL NEWS

 

How Do I Negotiate the Tenant Improvement Allowance?

The tenant improvement allowance is an essential part of the commercial lease negotiation; the landlord’s construction costs (and the lease term over which they are amortized) will have a significant impact on the negotiated rental rate. THE BROKER LIST

 

Commercial Real Estate, There's Now Software For You, Too

It’s time for commercial real estate to get the tech startup treatment, ready or not. New York startup Hightower is raising cash fast to roll out its software that the company claims can finally improve the workflow of the insulated and arcane world of commercial leasing. FORBES

 

Competition increasing for prime commercial property

The price of commercial real estate is heading toward exceeding a property's appraised value in some markets, according to a report issued by a national property-valuation firm, and players in southwestern Connecticut are beginning to encounter the experience. CTPOST.COM

 

 

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08/29/2014 - 09:00

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