Lee & Associates - Arizona | Week in Review | Friday, August 1, 2014
LEE IN THE NEWS
Sought-after parcel in First Chandler Business Park sells for $2.2M
An 8.56 acre commercial parcel at the SEC of Germann and Stearman Roads sold for $2,221,000 or $5.95 per square foot. AZ BIG MEDIA
Kitchell looks to develop massive industrial complex south of Sky Harbor
Kitchell Development Co. has acquired 20 acres south of Phoenix Sky Harbor International Airport near Interstate 10 for a 290,000-square-foot industrial complex. PHOENIX BUSINESS JOURNAL
Tempe's urban transformation
It is no accident that there are about 20 developments underway. Tempe sees itself not as another suburb of Phoenix but as a thriving small-scale metropolis. AZCENTRAL
Hunt Construction, Penta picked by Tohono O’odham Nation to build $500M Glendale casino
The Tohono O’odham Nation has picked Hunt Construction Group and Penta Building Group to build its $500 million casino in the West Valley near University of Phoenix Stadium.
Snell & Willmer renews Arizona Center lease in downtown Phoenix
The Snell & Wilmer LLP law firm has renewed its lease at the Arizona Center. The Phoenix-based law firm has renewed its lease for approximately 10 years. PHOENIX BUSINESS JOURNAL
NATIONAL & INTERNATIONAL NEWS
Economy Watch: GDP Surges in Q2; More Tapering by the Fed; ADP: 218K Jobs Added in July
U.S. real gross domestic product increased at an annualized rate of 4 percent in the second quarter of 2014, according to the first estimate released by the Bureau of Economic Analysis on Wednesday. COMMERCIAL PROPERTY EXECUTIVE
Dollar Tree, Family Dollar in $9.2B Union
Dollar Tree Inc. said Monday it would buy competitor Family Dollar Stores Inc. in a cash-and-stock deal that gives Family Dollar an enterprise value of $9.2 billion including debt. GLOBE ST.
What will Seattle's new waterfront look like? New center will show you
It's hard to imagine what Seattle's new $1 billion waterfront will look like when you consider there has been talk of new parks, a pedestrian promenade and even a swimming pool barge.
Brick-and-Mortar Stores to Remain Cornerstone of Retail, Study Shows
Brick-and-mortar stores continue to be customers’ preferred shopping channel, and are crucial in generating online sales for retailers, according to a new study by global management consulting firm A.T. Kearney. REIT.COM
Commercial loans rise sharply in Q2, down year over year
Commercial originations rose 34 percent in the second quarter but are down 2 percent year over year primarily because of drop off in retail, multifamily and office loans, the Mortgage Bankers Association (MBA) reported in its quarterly survey. SCOTTSMAN GUIDE