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Lee & Associates - Arizona | Week in Review | Friday, May 15, 2015

05/15/2015

LEE NEWS

           

Place your Retail Bets on Trophies or Trash But, of course, real estate is still local and more nuanced, as Jan Fincham, and Patrick Dempsey, principals in the Phoenix office of Lee & Associates, explain. Don’t get me wrong, they’re both enthused about the direction the asset class is going. But they’re also realistic in acknowledging that there’s still some post-recessionary catching up to do. GLOBE ST.

 

 

LOCAL NEWS

 

Phoenix man hopes nursery can bloom in vacant lot A Phoenix man wants to convert a one-acre eyesore at 18th Street and Indian School Road into a verdant, millennial-oriented nursery. AZCENTRAL

 

 

Arizona gets credit upgrade on economy, budget progress Arizona's improving economy and budget progress led to a credit upgrade from Moody's. But the new grade of Aa2 remains a bit below average, reflecting lower resident incomes here. AZCENTRAL

 

 

Developers say building to begin soon for PhoenixMart Nearly four years ago, Casa Grande officials announced that developers had planned to build a massive international trade center on the edges of the city. PhoenixMart would attract more than 1,700 vendors, establish nearly 8,000 jobs and provide a combined annual payroll of more than $300 million, officials had said. AZRE

 

 

ADOT Preps for $1.9B Loop 202 Extension As part of the process of moving toward the 2016 start of construction for the Loop 202 South Mountain Freeway, Arizona Department of Transportation crews will begin the preliminarily geotechnical investigation in early May, assessing the condition of soil, rock and depth of groundwater along the freeway alignment. AZBEX

 

 

NATIONAL & INTERNATIONAL NEWS

 

Jobless Claims in U.S. Fall as 4-Week Average at 15-Year Low Fewer Americans than forecast filed applications for unemployment benefits last week, pushing the average over the past month to the lowest level in 15 years and underscoring labor-market strength. BLOOMBERG BUSINESS

 

 

Whole Foods to open chain for Millennials Whole Foods is trying to change its reputation as a grocery with fresh food at high prices by opening a separate chain of lower-priced stores aimed at Millennials. USA TODAY

Japan starts buying real estate again Tokio Marine Holdings, one of Japan's oldest insurers, is joining its Chinese peers in investing in property overseas - but with a twist. IRISH INDEPENDENT

 

An Industrial Real Estate Revolution All eyes were on the industrial real estate sector when news broke last month of the Prologis/Norges Bank mega deal. The joint venture agreed to pay $5.9 billion for KTR Capital Partners and its 60 million sq. ft. of U.S. industrial space. NATIONAL RE INVESTOR

 

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05/15/2015 - 09:00

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