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Lee & Associates - Arizona | Week in Review | Friday, August 15, 2014

08/15/2014

LEE IN THE NEWS

 

Central Phoenix Apartment Complex Trades in $12.5M Investment Deal

A 355-unit apartment community at 2912 E. Indian School Road, Phoenix, sold July 29 for $12.5 million, or 35,211 per unit. COMMERCIAL EXECUTIVE

 

Rivulon developer acquires additional land

Columbus-based Nationwide Realty Investors announced today the acquisition of a 2.9-acre parcel of land that will be incorporated into their master-planned Rivulon development in Gilbert, Ariz.

AZRE MAGAZINE

 

 

LOCAL NEWS

 

Arizona a top business grower

Entrepreneurship and innovation in Arizona have led to successful businesses that are meeting everyday needs of residents and businesses. And the ideas keep growing. Arizona is the top-ranked state for entrepreneurial activity, according to business magazine Fast Company. AZ CENTRAL

 

Scottsdale’s red-headed stepchild – New apartments and SkySong could save McDowell Road

If affluent, golf course-laden Scotts- dale could have a “wrong side of the tracks,” it’s been the McDowell Road corridor. PHOENIX BUSINESS JOURNAL

 

Chandler airpark area seeing major expansion since recession

After being grounded by a difficult economy, Chandler's youngest employment corridor, the airpark area, is growing into its designation as one of the city's top opportunity hubs. AZ CENTRAL

 

Conn's Executes $6.78M Sale-Leaseback at Metro Marketplace

Houston-based appliance retailer Conn's Inc. has sold its Metro Marketplace location to locally-based single-tenant investors, STORE Capital, in a deal valuing the freestanding big box space at $6.78m or $152.80 per square foot. VIZZDA

 

 

NATIONAL & INTERNATIONAL NEWS

 

Latest Commercial Property Prices: July 2014

There is an all-time high in commercial property prices, according to Green Street Advisors. The price index in July was unchanged from the record-high set in June. It is up 6.0 percent from one year ago and up a whopping 76 percent from the cyclical low five years ago. ECONOMISTS OUTLOOK

 

Housing Price growth slowing in the US amid concerns about longer term sustainability

Year on year property price growth in the United States fell from 9% to 8.4% in July, raising concerns about the market’s ability to maintain long term growth. PROPERTY WISE

 

Loot Canal: Some REITs May Benefit from Panama Megaproject

A report by SNL Real Estate published recently contends that the completion of the Panama Canal expansion could boost real estate investment trusts that have properties in or near a range of U.S. ports that will see increased traffic due to the bigger canal. WALL ST. JOURNAL

           

 

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08/15/2014 - 09:00

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