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Lee & Associates - Arizona | Week in Review | Friday, November 21, 2014

11/21/2014


LEE NEWS

 

Jackson-Shaw/La Pour Partners Venture Developing Spec Industrial Project in Phoenix

A joint venture formed by Jackson-Shaw Co. in Dallas, Tex. (Lewis W. Shaw, II, chairman) and LaPour Partners in Las Vegas, Nev. (Jeff LaPour, principal) plans to develop 177,750 sq. ft. of industrial space in a spec project located just west of Phoenix Sky Harbor International Airport. BREW

 

 

Lee & Associates to market Cabot Commerce Center

Lee & Associates Arizona has been awarded the marketing assignment at Cabot Commerce Center, a three-building project totaling 227,160 square feet. Lee & Associates principals, Jeff Conrad, Matt Hobaica and Chris McClurg were tasked with securing tenants for the general industrial multi-tenant development. AZRE

 

Mesa Shopping Center Investment Opportunity Trades for $1.6 Million

Continental Plaza, a 37,400 SF retail shopping center at 855 W. University Dr. in Mesa sold for $1,612,500 or $43.11 per SF. The transaction closed on November 14. The neighborhood center was over 70 percent leased at the time of sale. PRLOG

 

Tempe Warehouse Trades for $1.7M

A 27,800 SF Industrial warehouse at 7425 S. Harl Ave. in Tempe at the I-10/Elliot Industrial Park sold Nov. 14 for $1,695,000 or $60.97 per SF. The building was 67 percent leased at time of sale. AZRE

 

 

LOCAL NEWS

 

Apple to repurpose Mesa, Ariz. sapphire plant after GT Advanced vacates

Adding background to Apple's vow to keep as many jobs as possible at its Mesa, Ariz., sapphire plant leased to GT Advanced, a new report says the facility will be repurposed, suggesting some current employees may be able to continue work at the location. APPLEINSIDER

 

Phoenix homebuilding market in top 10 for growth

New home buying and building in metro Phoenix is down from last year and has yet to recover from the crash. But the Valley is considered one of the top 10 growth markets for new housing in 2015. AZCENTRAL

 

Paradise Valley could see new Ritz-Carlton pitch

It appears the development behemoth known as the Paradise Valley Ritz-Carlton project may be rising from its recessional slumber. AZNEWSZAP

 

 

NATIONAL & INTERNATIONAL NEWS

 

Desire for Downtown Living Increasing

Much of the increasing demand for downtown living stems from changing demographics as Millennials, and even young families, forego the dream of a home with a white picket fence for an exciting life of downtown living. NEWSFUNNEL

 

Canadians snap up U.S. commercial real estate at record pace

Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada's second-largest pension fund closes a $2.25 billion deal to buy a landmark Manhattan property, according to data from property research firms. REUTERS CANADA

 

Advice to the real estate industry: Don't be tech 'laggards'

A new report out this week notes that no form of real estate is exempt from "the exponential expansion of technology," leaving players in the industry a choice: either treat tech as an enemy or an ally. PUGET SOUND BUSINESS JOURNAL

 

 

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11/21/2014 - 10:00

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