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Lee & Associates - Arizona | Week in Review | Friday, November 13, 2015

11/13/2015


LEE NEWS

Neighborhood Retail is King with Investors Following a string of multifamily and industrial transactions, retail joins the fray with two high-profile shopping centers recently changing hands. Both properties sold to institutional investment buyers. GLOBE ST.


LOCAL NEWS

Study: Arizona is a top destination for relocating California businesses According to a recent study from Spectrum Location Solutions, Arizona was one of the top destinations for relocating California businesses over the last seven years. Texas, Nevada, Colorado and Washington joined Arizona in the top five states. KTAR NEWS

Mesa grabs 500-worker corporate headquarters at Waypoint development
American Traffic Solutions is moving 500 employees from offices in Scottsdale and Tempe to the Waypoint office development next to the Mesa Riverview development and near the Chicago Cubs spring training ballpark. PHOENIX BUSINESS JOURNAL

Phoenix retail development to make a slow comeback
The retail land market in the Phoenix area is waking up from its nearly seven year dormancy. While sales and development for retail pads and in-fill parcels has been at an all-time high, the development of new shopping centers has remained at a stand-still – and with good reason. AZ BIG MEDIA

Tempe mayor: Diverse business key to success
Tempe Mayor Mark Mitchell quipped at his annual State of the City Address that the construction crane should be declared Tempe’s official bird, a symbol of how much development the city has witnessed over the past few years. AZ CENTRAL

Scottsdale developer plans 300 apartments, restaurants for Circles Records property in downtown Phoenix
Scottsdale-based Empire Group plans on buying the historic Circles Records & Tapes building in downtown Phoenix and wants to redevelop the well-known property into a 19-story apartment building with more than 300 units. PHOENIX BUSINESS JOURNAL


NATIONAL & INTERNATIONAL NEWS

Foreclosure Inventory Shrinks, Rental Market Surges The U.S. foreclosure inventory in September witnessed a 24.3 percent year-over-year decline, while the number of completed foreclosures declined by 17.6 percent compared with September 2014, according to new data from CoreLogic. NMP MAGAZINE

CRE Survey Reflects Both Positive Conditions and Concerns Over Interest Rates, Global Volatility
A survey of commercial real estate executives found expectations for more measured market conditions, with asset values increasing at a slower pace and moderate capital availability expected over the next year, according to The Real Estate Roundtable's latest quarterly Sentiment Index. COSTAR

Strong Box Office Numbers Lead to More Traffic at Shopping Centers From Star Wars: The Force Awakens and the final installment of The Hunger Games to the next James Bond movie, Spectre, and the highly anticipated release from Disney-Pixar, The Good Dinosaur, the movie release slate for 2015 is stronger than it’s been in years. NATIONAL RE INVESTOR

 

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11/13/2015 - 10:00

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