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Lee & Associates - Arizona | Week in Review | Friday, November 7, 2014

11/11/2014


LEE NEWS

 

Emerald Design Center building sells for $2.6M

A 38,225 SF, freestanding retail building at Emerald Design Center, 1725 West Ruby Dr., Building C in Tempe, has sold in an all-cash deal for $2,600,000 or $68.02 per SF. AZRE

 

5.9-Acre Land Parcel in Northeast Mesa Sells For $1.4M, Built-to-Suit Planned

A 5.87-acre land parcel at 460 W. McKellips Rd. in Mesa sold for $1,400,000 to an Oregon buyer with plans to build an industrial packing facility. Price per SF was recorded at $5.47. PR LOG

 

Phoenix has highest office vacancy rate among major US markets

Phoenix has the worst office vacancy rate among the largest 30 commercial real estate markets in the U.S. PHOENIX BUSINESS JOURNAL

 

Michael Tingus Named Lee & Associates Chairman

Lee & Associates is expanding its leadership platform once again. The broker-owned firm has named Michael Tingus chairman of the board at the L.A. North/Ventura office. GLOBE ST.

 

 

LOCAL NEWS

 

'Psycho' building at Central and Monroe to become Phoenix Hilton

A historic downtown Phoenix building that appeared in the opening scenes of Alfred Hitchcock's 1960 classic movie "Psycho" is being redeveloped into a Hilton Garden Inn. AZ CENTRAL

 

Arizona could experience another population bump in coming year

A Valley economist is expecting another population bump in Arizona in the coming year. Jim Rounds with Elliott D. Pollack and Company said he expected more people to leave cold weather states for the Southwest and that would kick-start economic activity. KTAR NEWS

 

Land slated for housing development near Luke Air Force Base sold for $12M

A Scottsdale real estate company that wants to develop more than 1,200 homes east of Luke Air Force Base has closed on a 352-acre parcel for $11.7 million. PHOENIX BUSINESS JOURNAL

 

 

NATIONAL & INTERNATIONAL NEWS

 

Top 10 New Multifamily Construction Metros of 2015

Multifamily experts suggest Houston, Texas will be on top for new construction markets for apartments in the year 2015. MULTIFAMILY EXECUTIVE

 

Malls Fill Vacant Stores With Server Rooms

Empty Department Stores Are Getting Converted Into Data Centers; ‘Who Else Wants Them?’ Rethinking the aging Mall model. WALL ST. JOURNAL

 

Seeing Similarities to 2007, CRE Industry Debates Whether We’re Early or Late in Current Upcycle

Investors, Brokers and Analysts Weigh In on Where They See Opportunities in the Current Market Cycle as compared with 2007. COSTAR

                   

 

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11/07/2014 - 10:00

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