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Lee & Associates - Arizona | Week in Review | Friday, October 23, 2015

10/23/2015


LEE NEWS

Interstate 17 Industrial Building Trades for $2.88M to Divine Bus A bus transportation company, Divine Bus Transportation, purchased a property at 2239 N. Black Canyon Hwy. in Phoenix for $2,875,000 ($49.82 PSF) in a transaction that closed on October 9th.  REAL ESTATE DAILY

 

Conner Lee Promoted to Associate Lee & Associates is pleased to announce the promotion of Conner Lee to Associate on October 1, 2015. PR LOG

 

 

Bulk of Phoenix’s office leasing happening in Chandler, other suburbs Two-thirds off the office leasing activity in the Phoenix market this year is happening in four submarkets — and three of them are in the suburbs. PHOENIX BUSINESS JOURNAL

 

Two Tempe Industrial Buildings Sell in $11.5 Million Investment Deal Lee & Associates is pleased to announce the sale of two industrial buildings totalling 115,742 at 2114 W. 7th St. and 2105 W. 5th Place in Tempe, for $11,500,000 or $99.36 per SF. Both buildings are 100 percent occupied by Comtech EF Data a credit tenant with a long-term leases in place. PR LOG

 

 

LOCAL NEWS

How new restaurants ignited the midtown Phoenix coolness factor A Mediterranean salad from Fez and a Backyard Burger from Windsor could be the bookmarks on midtown’s resurgence. PHOENIX BUSINESS JOURNAL

 

City of Scottsdale wins two IEDC Excellence Awards The City of Scottsdale received a Gold Excellence in Economic Development Award for its 2015 project in the category of Business Retention & Expansion – Single Event for communities with populations of 200,000-500,000 from the International Economic Development Council (IEDC). AZRE

 

Scottsdale Office Building Gets Renovations The office building that has dominated the northwest corner of Scottsdale and Camelback roads at Fashion Square for 25 years is getting a makeover. AZBEX

 

Fresh & Easy Neighborhood Market shutting down Fresh & Easy Neighborhood Market, which at one point had dozens of stores in greater Phoenix, is officially closing down for good, reports the Los Angeles Times. PHOENIX BUSINESS JOURNAL

 

NATIONAL & INTERNATIONAL NEWS

Columbia commercial real estate booming Columbia’s commercial real estate market is booming in many ways with demand and prices up, vacancies down and interest at, perhaps, an all-time high, industry experts said Tuesday. SCNOW.COM

 

 

Miami a Top 10 Global Destination for Commercial Real Estate Investment Capital On the heels of a very strong 7-year run of foreign capital buying Miami condos and homes, Miami has something new to be cheerful about -- the growth of foreign real estate investment capital now pouring money into Miami's commercial real estate sector. WORLD PROPERTY JOURNAL

 

 

U.S. Office Demand Reaches Pre-Recession Peak In Third Quarter The U.S. office market logged 29 million square feet of net absorption in the third quarter, the second-highest quarterly total since 2006, with demand for office space from expanding companies roughly doubling the amount of new office supply added by developers. COSTAR

 

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10/23/2015 - 09:00

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