Lee & Associates - Arizona | Week in Review | Friday, June 13, 2014
Real estate company expects to tear down Elevation Chandler project by early 2015
The concrete structure called Elevation Chandler was intended to be a luxury hotel and would have provided the Chandler Fashion Center located next door a steady stream of consumers. It now sits vacant and exposed on an empty dirt plot and serves as a stark juxtaposition to the prosperous shopping center.
Arizona REIT to pay $200M for health care properties, including two in Boston
Healthcare Trust of America has inked a deal to pay $200 million for a portfolio of medical-office buildings that includes a pair of prominent properties occupied by Tufts Medical Center in Boston.
Phoenix infill lots garner $2.8 million
Two Central Phoenix infill lots totalling 4.1 acres garner much interest, development plans.
Optima’s Newest 1.5MSF, 4-Building Midrise at Kierland
Furniture row on North Scottsdale Road will have more new apartments to decorate. Four 12-story mid-rise buildings with apartments and a luxury boutique hotel are proposed by Optima on the site of the former Robb & Stuckey Furniture galleries at Scottsdale Road and Kierland Boulevard. AZBEX
As U.S. fills its job hole, Arizona shortfall lingers
Before the Great Recession, most of America might have looked at Arizona's job growth with envy. Now, in some ways, it's Arizonans who look longingly. AZCENTRAL
NATIONAL & INTERNATIONAL NEWS
Job openings soar to highest since 2007
Job openings in April soared to their highest level in almost seven years in another sign of the labor market's growing strength. USA TODAY
China’s First-Home Buyers Shrink as Market Slows, Survey Shows
The ranks of China’s first-home buyers have shrunk amid a market slowdown, according to a report from the Survey and Research Center for China Household Finance. BLOOMBERG
U.S. Economy Still Faces Stagnation Despite Strong Response To Financial Crisis
The U.S. managed to create the fastest and strongest response to a major financial crisis in history; however, more still needs to be done before the economy fully recovers from the 2008 financial crisis, said Lawrence Summers. FORBES
Creating and Attracting Vibrant Mixed-Use Developments
Many of the nation’s developers, businesses, residents and city planners are more interested in mixed-use development than ever before. NATIONAL RE INVESTOR