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Lee & Associates - Arizona | Week in Review | Friday, April 4, 2014

04/04/2014

LOCAL NEWS
 
Lee in the News: Consumer Cellular dials up 85,245 SF, 8-year back office lease
Portland, Ore., based Consumer Cellular leased 85,245 SF of back offi ce space at Tempe Commerce Park, Bldg. F, 7410 S. Roosevelt St. in Tempe, Ariz. The 8-year lease begins this spring and comprises the entire building footprint.
AZBIGMEDIA
 
Lee in the News: W.P. Carey Spends $43.1 Million For Chandler Building Leased To QBE Insurance
W.P. Carey Inc. in New York City, N.Y. (NYSE:WPC) has expanded its real estate holdings in the Valley by spending $43.1 million ($235.52 per foot) to acquire a 183,000-square-foot office project at 2700 W. Frye Road in Chandler. The seller was HR Frye LLC, a company formed by Regent Properties LLC in Los Angeles , Calif. BREW
 
Kitchen appliance manufacturer buys land for Goodyear plant expansion
Kitchen appliance maker Sub-Zero Inc. has bought more land in Goodyear for an expansion of its West Valley production plant. PHOENIX BUSINESS JOURNAL
 
Buchanan Street Partners invests $43.25M in Phoenix properties
Buchanan Street Partners announced two acquisitions in the greater Phoenix area, including Vue Park West, a 260-unit luxury apartment complex in Peoria, Ariz., and the 106,077 SF Mesa Corporate Center office complex in Mesa, Ariz.
AZBIGMEDIA
 
Deco Communities Venture Developing Luxury Residential Tower in Scottsdale
A venture formed by Deco Communities LLC in Scottsdale (Rob Lyles, Patricia Watts, Dan Richards, principals) plans to develop a 8-story residential tower in Old Town Scottsdale that will have 90 for sale condominium units. BREW
 
Phoenix Focuses on Job-Generating Redevelopment for Rio Salado
Across Rio Salado from I-17 to Broadway Road, Phoenix doesn’t have the sparkle or vitality expected for the west Sky Harbor gateway. With more than $30M being invested into Avenida Rio Salado, the blight scattered through the south-central area may get an economic boost. AZBEX
 
 
NATIONAL & INTERNATIONAL NEWS
 
New CRE Loans Hit All-Time High
During the fourth quarter of 2013, commercial and multifamily mortgage originations were strong, boosting mortgage debt outstanding to a new all-time high. COSTAR GROUP
 
Chinese Investments in U.S. Commercial Real Estate Surges
It took just one 15-minute phone call in July to persuade Ifei Chang to join Shanghai-based developer Greenland Holding Group Co. and lead a U.S. expansion. Within three months, she was running $6 billion of projects as part of a record push by Chinese investors into American property. BLOOMBERG
 
Commercial Property Deals Heading for 10-Year High
Commercial property transaction volume in 2016 will exceed 2006 levels, reaching $430 billion, according to a U.S. real estate forecast released Tuesday. THINK ADVISOR          

    

 

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04/04/2014 - 09:00

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