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Lee & Associates - Arizona | Week in Review | Friday, September 5, 2014

09/08/2014


LEE IN THE NEWS

 

Road Machinery Purchases 113,827 SF E. Phoenix Warehouse for $9.2 Million

A Phoenix-based company bought a 113,827 SF industrial warehouse facility at 317 S. 48th St. in Phoenix for $9,200,000 or $80.82 per SF. The transaction closed on Aug. 22. COMMERCIAL EXECUTIVE

 

Lee & Associates Negotiates $2.95M Sale of Phoenix Distribution Facility

A 25,465 SF warehouse building at 3880 E. Broadway Rd. in Phoenix has sold to a California owner/investor group for $2,950,000 or $115.00 per SF. The sale was completed on August 21. REAL ESTATE RAMA

 

 

LOCAL NEWS

 

Smithfield Properties Wins 483KSF, $72.3M Central Station in Phoenix

Smithfield Properties is being proposed as the winner of the Phoenix Central Station project. The project appears to be an “air-rights” development over the Central Avenue-Van Buren Street intermodal transit center, which is to be transformed into a 476-unit, 34-story residential tower attached to parking and the transit center. AZBEX

 

Chandler Council set to vote on fate of ‘Elevation’

The long-awaited demise of the Elevation Chandler building is now entering its final stages.Final development agreements about the project are on the agenda for the Sept. 8 Chandler City Council. The six-story tension steel skeleton will be down near the end of the year if all is approved. EAST VALLEY TRIBUNE

 

Streamlined permitting process stokes Phoenix development

Phoenix has been incorporated since 1881, yet plenty of open land to develop remains. As the economy recovers from the Great Recession, city officials have seen more projects being built in recent months.

AZ CENTRAL

 

Mesa Envisions Bigger Jobs Hub at Falcon Field

Amid acres of orange groves and beneath an increasingly crowded sky, the area surrounding Falcon Field has steadily grown into one of the area’s primary employment centers, with nearly 19K jobs and major manufacturers like Boeing and MD Helicopters. AZBEX

 

 

NATIONAL & INTERNATIONAL NEWS

 

The rise of Seattle's 'urban campus:' Weyerhaeuser, Amazon and beyond

The city is becoming a hotbed of the much lauded "urban campus," especially with the news that timber giant Weyerhaeuser will move into downtown Seattle in 2016. PUGET SOUND BUSINESS JOURNAL

 

Investors Returning to Greece's Real Estate Market

Since the European debt crisis erupted in 2009, foreign investors have mostly ignored Greek real estate even as they have jumped back into Spain, Italy and Ireland. But now buyers are returning to Greece amid signs that Europe's hardest-hit economy is starting to recover. WALL ST. JOURNAL

 

Conduit Lenders Threaten Life Companies' Love for CRE

Life insurance companies love commercial real estate—but competition from conduit lenders could cut into their lending volume. NATIONAL RE INVESTOR

 

 

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09/05/2014 - 09:00

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