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Lee & Associates - Arizona | Week in Review | Friday, April 18, 2014

04/18/2014


A Happy Easter and Happy Passover to all.

 

LOCAL NEWS

 

LEE IN THE NEWS: 113,880 SF industrial showroom project to break ground in May in Deer Valley

The 17/Union Hills Business Center, a two-building, 113,880 SF industrial and showroom project is expected to break ground May 2014 at 2350-2400 West Union Hills Drive in Phoenix.
AZ BIG MEDIA

 

LEE IN THE NEWS: Lee & Associates Negotiates $3.4 Million Gilbert Medical Office Investment Sale

Greenfield Medical Dental Center, Phase II at 875 N. Greenfield Rd. in Gilbert, recently sold for $3.4 million or $119.34 per square foot. The 28,489 SF, value-add medical building was lender-owned. PRLOG

 

LEE IN THE NEWS: California Casualty renews 6-year, 27,750 SF office lease at Talavi

California Casualty Insurance Co. has renewed its 27,750 SF offi ce lease for a 6-year term at Talavi Corporate Center, 5651 W. Talavi Blvd. in Glendale, Ariz. AZ BIG MEDIA

 

TopGolf hiring 450 for new Scottsdale entertainment complex

TopGolf International Inc. today began looking for 450 people to staff its soon-to-open indoor/outdoor complex near Scottsdale. PHOENIX BUSINESS JOURNAL

 

Tempe, Chandler Price Road is a corporate magnet

Tempe and Chandler are united in their vision for a sprawling technology and corporate-office hub on Loop 101 that connects the Southeast Valley cities. AZCENTRAL

 

Phoenix developer on mission to save historic buildings

Michael Levine, 45, loves history, but what he loves even more is sharing it. Levine is a downtown Phoenix developer; his mission is to save as many historical buildings as possible in the city's warehouse district. AZCENTRAL

 

Amazon.com opening doors to warehouse tours
Amazon.com announced it will offer regularly scheduled tours to the public of one of the company's four Phoenix-area fulfillment centers. AZCENTRAL

 

 

NATIONAL & INTERNATIONAL NEWS

 

Price Momentum Continues to Build for Commercial Real Estate

This month's CoStar Commercial Repeat Sale Indices (CCRSI) provides more evidence of two broad trends in the commercial real estate investment market: the continued strong demand for top quality institutional-grade assets by big investors, and widening investor demand for mid- and lower-quality commercial property. COSTAR

 

Cities where real estate investors are finding deals

Investors are draining out of formerly foreclosure-torn cities like Phoenix and Las Vegas, but that doesn't mean they're abandoning real estate altogether. Instead they're relocating to cheaper, less competitive locales, a trend that's expected to continue. CNN MONEY

 

Economy Watch: Initial Unemployment Claims Lowest in 7 Years; Import Prices Rise, Led by Energy
For the week ending April 5, initial unemployment claims came in at 300,000, a sharp decrease of 32,000 from the previous week’s revised level, according to the U.S. Department of Labor.

COMMERCIAL PROPERTY EXECUTIVE

 

Retail sales climb in March

Spurred by warmer spring weather, U.S. retail sales, which exclude automobiles, gas stations and restaurants, increased 0.8% adjusted month-to-month in March and 1.6% unadjusted year-over-year, according to estimates from the National Retail Federation (NRF). CHAIN STORE AGE         
   

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04/18/2014 - 09:00

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