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Lee & Associates - Arizona | Week in Review | Friday, October 10, 2014

10/10/2014

LEE NEWS

 

66K SF Warehouse Near Airport Sells

A 66,429 SF industrial warehouse at 4346 E. Elwood St. in Phoenix has sold for $5,198,069. Price per SF for the sale was $78.25. The entire site is comprised of 4.68 acres and includes two fenced yards that total .45 acres. The building was 92 percent leased at the time of the transaction. GLOBE ST.

 

Bakery to open new 30,000 SF facility

The New Jersey division of Lee & Associates negotiated a long-term lease for Wenner Bread Products to move its manufacturing facility to a 301,626 s/f property at 571 Jersey Avenue in New Brunswick, NJ. RE WEEKLY

 

 

LOCAL NEWS

 

ASU picks developer for 330-acre master-planned athletic facilities district

In one of the most innovative programs to fund new and renovated athletic facilities without tapping public money, Arizona State University has picked Catellus Development Corp. to master develop its 330-acre athletic facilities district. PHOENIX BUSINESS JOURNAL

 

Company that operates Apple glass factory in Mesa files for bankruptcy

Plans for an Apple Inc. supplier to employ 700 people in Mesa are in jeopardy after the company behind the sapphire glass factory filed for bankruptcy Monday listing more than $1 billion in debt. AZCENTRAL

 

Developer: USA Place construction to start early next year

The $450 million USA Place development in Tempe is poised to start construction early next year, according to its developer. PHOENIX BUSINESS JOURNAL

 

Lennar Multifamily Buys Crux 5.46 Acres of Land at Central & McDowell

Lennar Multifamily has purchased 5.46 acres of vacant land (zoned Downtown Core) at the northwest corner of Central and McDowell avenues. The land parcel was sold for $12.75 million ($53.55 per square foot). VIZZDA

 

'Port of the Future' will grow Arizona's economy

Arizona's stature in international trade is taking a giant leap forward thanks to the more than decade-long, behind-the-scenes efforts to promote more efficient and effective commerce.AZCENTRAL

 

 

NATIONAL & INTERNATIONAL NEWS

 

Deutsche Bank Said to Explore Selling U.S. Real Estate

Deutsche Bank is exploring the sale of about $2 billion of U.S. commercial real estate loans held by the bank’s Special Situations Group, according to a person with knowledge of the matter.BLOOMBERG

 

Apartment Completions in Top 100 Metros at 14-Year High

Apartment completions in the nation’s top 100 metros reached the highest levels in 14 years in the third quarter at 66,813 units, and pushed the annual completion total so far to 226,615 units—also a 14-year high—according to information released by MPF Research.

MULTI-HOUSING NEWS

 

Investors Snap Up Apts., Office Properties to Fuel Third Quarter Sales Volume

With vast amounts of investor capital allocated to chase after all types of commercial real estate especially multifamily and office assets, sales of U.S. commercial property are projected to total about $415.1 billion for the four-quarter period ending with the third quarter of 2014. COSTAR

                      

 

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10/10/2014 - 09:00

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