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Lee & Associates - Arizona | Week in Review | Friday, January 17, 2014

01/17/2014


 

LOCAL NEWS

 

Lee News: Lee & Associates Sells Tucson Whole Foods-Anchored Shopping Center for $24.8 Million

River Center, a 117,563 SF Whole-Foods and Petco anchored shopping center at 555 E. River Rd. in Tucson, has sold for $24.775 million. COMMERCIAL EXECUTIVE

 

Lee News: Strong Absorption Lifts Phoenix Industrial Sector from Mid-Year Slide

The Phoenix industrial market has rebounded well from its mid-year doldrums and has regained much of what was lost to round out 2013. The sector has yet to hit its full stride and there is growing optimism as to where it might be headed. REAL ESTATE DAILY NEWS

 

$450M USA Place Breaks Ground in February

Eastridge Development is readying a February groundbreaking of USA Place, a $450M unique mixed use development with retail, office, residential, hotel, events center and the headquarters of USA Basketball. AZBEX

 

$80M Downtown Phoenix Hotel Planned for Luhrs Block

A new 19-story, $80M dual-purpose hotel is slated to rise from the site of a two-story vacant building at Central Avenue and Madison Street in downtown Phoenix. Hansji Urban plans the capstone of its Luhrs Block development with a 320 room hotel.  AZ BUILDERS EXCHANGE

 

Phoenix economy of scale brings local, international opportunities

As the Phoenix metropolitan area begins its economic revival from the Great Recession, business and political leaders say the central core of the city is looking more and more like a microcosm of the diversified global marketplace sought by both proprietors and policymakers. ARIZONA.NEWSZAP

 

 

NATIONAL/INTERNATIONAL NEWS

 

U.S. Property Markets Post Strongest Sales Volume Since 2007
Lodging, Office Sectors See Strongest Gains as Yield-Seeking Investors Target All Types of CRE Across Broad Array of Markets. COSTAR NEWS

 

Commercial Real Estate Investment Market Poised for Growth in 2014

The last quarter of 2013 for the commercial real estate investment market set the pace and tone for 2014. Nearly 60 percent of CCIM Institute’s national membership indicated they experienced more transactions in 4Q13 than the same period the prior year, according to the organization’s 4Q13 Quarterly Market Trends report. CCIM INSTITUTE

 

Economy: December Employment Down but Full-Year Job Creation Equals 2012; Fed Likely to Taper

The fact that the U.S. economy created only 74,000 new jobs in December – the fewest in about three years – had analysts and observers scratching their heads on Friday, some of whom cited the worse-than-usual weather as part of the reason. COMMERCIAL PROPERTY EXECUTIVE

 

Positive Signs for Commercial Real Estate in Las Vegas

Buildings that once sat empty are now starting to fill up around the Las Vegas valley indicating a more positive outlook for commercial real estate. Experts say the forecast for the commercial real estate recovery is slow and steady. KLAS-TV LAS VEGAS

 

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01/17/2014 - 10:00

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