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Lee & Associates - Arizona | Week in Review | Friday, July 18, 2014

07/16/2014

LEE IN THE NEWS

 

Lee & Associates Brokers Two Tempe Industrial Owner/User Transactions Totaling $4.55M

Two Tempe manufacturing buildings sell for a combined $4.55M in two, owner-user deals this past week. PRLOG

 

Risky business: Spec office construction is back but if may be detrimental to a still-recovering market

It started with one big building in 2012. Today, at least seven are under- way in the Valley, totaling almost 1 million square feet — with several more in the pipeline. PHOENIX BUSINESS JOURNAL

 

 

LOCAL NEWS

 

Irgens Partners Developing 526KSF Office Flex Space at Chandler Airport Center

Chandler’s City Council is slated to give final approval this week to Ascend at Chandler Airport Center, a three building proposal from Irgens Partners LLC to build a 526KSF office campus with warehousing, flex buildings and office space. AZBEX

 

CIRE Equity Pays 19M for Pecan Promedade Retail Plaza

A company formed by CIRE Equity in La Jolla, Calif. paid $19 million ($134.36 per foot) to purchase a 141,407-square-foot shopping center located at the northeast corner of Lower Buckeye Road and 99th Avenue in the Tolleson area of west Phoenix. BREW

 

Newly Built Phoenix Apartment Complex Sold for $35.4M

Less than six months after a certificate of completion was recorded, Avenue 25 Apartments in Phoenix sold for $35.4M or nearly $140K per unit. VIZZDA

 

 

NATIONAL & INTERNATIONAL NEWS

 

Report examines commercial real estate trends in Western states

According to the study, demographic and consumer preference trends point toward more walkable neighborhoods and developments, making mixed-use development key. STEAMBOAT TODAY

 

Australia Housing a Significant Source of Risk, Inquiry Says

An increase in Australian housing debt since 1997 and banks’ exposure to mortgages are a significant source of risk to the country’s financial system, according to a government inquiry. BLOOMBERG

 

Overbuilding Concerns Touch Texas Office Markets

Demand for office space rebounded in the second quarter, but overbuilding now threatens a few major markets. Dallas-Fort Worth and Houston in Texas are prime examples of this trend.

NATIONAL RE INVESTOR

                     

 

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07/18/2014 - 09:00

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