Lee & Associates - Arizona | Week in Review | Friday, February 14, 2014
Lee in the News: Valley office market improving, but still a long way from normal
The metro Phoenix office market is making progress, but overall vacancies were still high, and absorption — the true measure of performance — finished the year well below everyone’s expectations.
Apartment tower, Whole Foods planned for downtown Tempe in $80-100 million project
A failed mixed-use project in downtown Tempe that once promised a condominium high-rise and a Whole Foods grocery store is being revived. PHOENIX BUSINESS JOURNAL
Apple Wooed by Arizona as Obama Seeks U.S. Jobs Comeback
Arizona got snubbed by Apple in 2012 when the iPhone maker picked Texas to build a new operations hub. Scott Smith, the mayor of the Phoenix suburb of Mesa, was determined to keep history from repeating itself. BLOOMBERG NEWS
BH Properties Expects Continued AZ Growth
BH Properties ended the year with the $13.4-million purchase of Gilbert Town Square. The transaction, involving a 159,000-square-foot class A retail shopping center located within the highly affluent Phoenix submarket of Gilbert, AZ., was another in the firm’s strategy for the Arizona market. GLOBE ST.
Mesa leaders expect Cubs, Riverview parks to become economic, social drivers
It took nearly four years and millions of dollars — the city had up to $99 million in voter-approved bond funding for the baseball facility alone — for the Riverview Park and Cubs Park projects to come to fruition.
NATIONAL & INTERNATIONAL NEWS
Lee in the News: Lee & Associates Negotiates $10.14 Million Sale of Kraft Foods Distribution Facility
Lee & Associates, the largest broker-owned commercial real estate firm in the country, has negotiated the $10,144,199 sale of a Kraft Foods Jell-O distribution facility in Mason City, Iowa. REAL ESTATE RAMA
Odds of getting a job in the Western U.S.? Best in 6 years
The odds of finding work in Western States nearly matched the national average in December, nearly ending a six-year run of tougher prospects for the jobless in the West, federal data shows. AZ CENTRAL
Taylor Morrison plans to top $1 billion in spending on land acquisition, development this year
Shares of Taylor Morrison Home Corp. were up 3.6 percent by the end of trading Wednesday following its earnings report released earlier that morning showing a strong finish to 2013. PHOENIX BUSINESS JOURNAL
China Investment Boom in London Real Estate is Poised to Continue
Growing Chinese interest in investing abroad was a top global business trend in 2013. FORBES